KARACHI: Pakistan International Airlines (PIA) has posted Rs2.83 billion profit in the first quarter of 2015, which is a great achievement of the national carrier as it had to face Rs3.93 billion loss during the same period last year.
The combined effect of downward trend in fuel prices and the impact of replacement of aging fleet with fuel efficient aircraft resulted in almost 49pc decline in fuel cost in comparison to the corresponding period of last year.
The airline is in the process of increasing the capacity by inducting more narrow body aircraft. Five ATR’s and two wide body aircraft on dry lease had already been initiated through a transparent and competitive bidding process.
Two ATR72-500 have already arrived and are operating. The airline now has four A320 aircraft while nine more will be added starting from June, this year.
