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Explainer video: The curious case of PIA’s losses

SAMAA | - Posted: Jun 3, 2020 | Last Updated: 1 month ago
SAMAA |
Posted: Jun 3, 2020 | Last Updated: 1 month ago

In the last 20 years, the Pakistan International Airline has seen its net worth decline 100 times to (a negative) Rs291 billion. This is because the national carrier has been reporting losses since 2005. Last year, it burned Rs100,000 per minute of taxpayer’s money, taking total accumulated losses to half a trillion rupees. Experts say it is bankrupt which means that it can’t fund its operations nor pay its liabilities, currently standing at Rs578 billion. Over the years, the airline’s worsening financial health coincided with a loss of reputation and deteriorating safety standards. This video looks at some of the key financial data to see where it stands now.

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3 Comments

  1. PROFESSOR DR. ALAY AHMAD  June 4, 2020 3:00 am/ Reply

    :Great People To Fly With PIA .

  2. Syed  June 5, 2020 7:54 pm/ Reply

    Shut it down or sell it to private buyers like Emirates etc…

  3. KM Ali  July 12, 2020 1:58 pm/ Reply

    PIA needs to be either privatized or disbanded. There are private airlines who can quickly take up the slack.

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