PIA Reports Rs 51.74 Billion Profit in 2024 Audit, Losses Reduced by 82%
KARACHI, July 30, 2025 – The Pakistan International Airlines (PIA) Holding Company has shown a remarkable turnaround in its latest 2024 audit report, recording a profit of Rs 51.74 billion, a significant 42.90% increase compared to Rs 36.2 billion in 2023, ARY News reported on Wednesday.
The audit revealed that PIA’s losses also plummeted by 82%, dropping from Rs 87.26 billion in 2023 to Rs 15.35 billion in 2024, marking a major milestone in the airline’s financial recovery efforts.
Revenue Decline Offset by Expense Reductions
Despite improved profit figures, PIA’s total revenue saw a 7.68% decline, falling from Rs 259.59 billion in 2023 to Rs 239.65 billion in 2024. The audit attributes the overall financial improvement to a 15.88% reduction in operating expenses, which decreased to Rs 187.92 billion in 2024.
Key contributing factors to cost reductions included a 22.92% decrease in jet fuel costs and lowered spending on several operational services.
However, the audit also highlighted rising administrative expenses, which climbed by 36.62%, reaching Rs 25.75 billion in 2024.
READ MORE: PIA to Resume UK Flights on August 14 – Delegation Reviews Manchester Arrangements
Cadet Pilot Program Launched
Alongside its improved financial performance, PIA has also launched a Cadet Pilot Program to tackle its shortage of cockpit crew. Under this initiative, 24 new pilots will be recruited on a two-year contractual basis, with successful candidates beginning their flying careers with the national flag carrier.
Applicants must have at least 200 flying hours and a valid Commercial Pilot License (CPL) issued by the Civil Aviation Authority (CAA). Selected candidates will be required to sign a $15,000 financial bond to ensure compliance with the airline’s operational protocols.
PIA has also announced the recruitment of 20 experienced commercial pilots to address immediate operational demands, especially as the airline works to restore international routes in Europe and the UK.
The airline’s HR department has invited applications for these roles within 15 days of the announcement, which follows a previous recruitment drive for First Officer positions that attracted nearly 300 applicants—a sign of the growing interest in aviation careers within Pakistan.
