PIA Reports Operating Profits After 13 Years

The Pakistan International Airlines (PIA) has made a significant breakthrough by reporting operating profits for the first time in 13 years. This achievement has paved the way for the airline to set its sights on expanding operations to Europe and the United Kingdom starting from June 2024, following the successful clearance of the International Aviation Safety Assessment (IASA) audit.

The announcement of this ambitious plan took place during an extraordinary annual general meeting held at the PIA Training Centre in Karachi. Key officials, including the Federal Secretary Aviation Division, Secretary Aviation, legal advisors of the Finance Advisor, and the CEO of PIA, were present alongside the airline's directors and shareholders. The pivotal agenda item involved the approval of transferring PIA Corporation Limited to PIA Holding Limited, a move that received overwhelming support from the shareholders.

During the meeting, the Chairman and CEO of PIA highlighted the airline's remarkable performance in the past year, which led to the generation of operating profits after more than a decade. Additionally, PIA's business operations have seen a significant boost, with its net worth increasing by a remarkable 700 times. This resurgence has set the stage for PIA's ambitious expansion into the European and British markets.

Following the successful completion of the IASA audit, PIA aims to kick off operations in Europe and the UK from June 2024. The shareholders' strong backing of the transition to PIA Holding Company underscores the airline's dedication to sustained growth and operational excellence.

In conclusion, PIA's recent financial success and strategic plans for international expansion mark a significant turning point for the airline, positioning it for a new chapter of growth and global reach in the competitive aviation industry.