Lahore: During the first six months of 2023, PIA’s losses exceeded Rs 60 billion 71 crore.
The financial report of PIA for the first 6 months of the year 2023 has been released, according to which the losses of the national airline in the first 6 months of this year have exceeded 60 billion 71 crore rupees. PIA’s losses in the first six months of last year were Rs 41.31 billion.
According to the report, losses of 27.45 billion rupees were caused in the first 6 months of this year due to depreciation of the rupee, while the losses of the exchange were 13.85 billion rupees in the same period last year.
In the first half of 2023, 48.34 billion rupees were spent on fuel and oil, while 30.78 billion rupees were spent on fuel and oil in the same period last year.
In the first half of this year, the cost of finance was 36.82 billion rupees, which was 21.11 billion rupees in the same period last year.
In the first 6 months of 2023, the total revenue of PIA was 120 billion 27 crore rupees. According to the report, additional revenue of 11.25 billion rupees was obtained this year compared to 6 months of last year. In the first 6 months of 2022, 71.19 billion rupees were collected in terms of revenue.
According to the report, 41% of operational costs were increased due to increase in fuel and oil prices and 20% additional payment due to increase in interest rates.
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