Pakistan International Airlines (PIA) has announced its financial results for 2020 as it submitted audited accounts with the Stock Exchange of Pakistan, claiming that it had reduced its operational losses from Rs6.130 billion in 2019 to less than Rs680 million in 2020.
A PIA spokesman said in a press release that what had been termed one of the worst year in decades for the global aviation industry whereby even largest players in the market had obtained huge bailout packages from their respective governments to stay afloat, PIA had come up with a noteworthy performance, nearly breaking even on operational losses and reducing its overall losses by 33.7pc.
