✈️ PIA Records First Half-Year Profit in Nearly 20 Years Amid Privatisation Push

KARACHI: Pakistan International Airlines (PIA) has reported a pre-tax profit of Rs11.5 billion for the first half of 2025 — the national carrier’s first such gain in nearly two decades. The airline’s net profit stood at Rs6.8 billion, reversing years of financial strain.

This turnaround comes as the government moves ahead with plans to privatise PIA, a core condition of Pakistan’s $7 billion IMF bailout programme. The proposed sell-off would mark the country’s first major privatisation in about 20 years.

📌 Key Drivers of Profitability

• Islamabad assumed nearly 80% of PIA’s legacy debt last year, significantly cutting finance costs.
• The lifting of the five-year UK ban in July 2025 reopened access to lucrative routes including London, Manchester, and Birmingham, estimated to have previously cost PIA over Rs40 billion annually in lost revenue.

📌 Privatisation Update

Five business groups, including Airblue, Lucky Cement, Arif Habib Group, and Fauji Fertilizer, have submitted qualifications to participate in the bidding process. Final bids are expected later this year.

Despite the positive earnings, PIA’s equity remains negative, highlighting ongoing financial vulnerabilities. Still, this half-year profit signals an important milestone in the national carrier’s long-awaited turnaround.