Pakistan International Airlines (PIA) published a profit before tax in the first half of 2025, as a corporate source said is its first such for the period of about two decades, in front of a planned sale of the national carrier later this year.
Pia, part of Pia Holding Company, Piaha. PSX recorded a profit before tax of RS11.5 billion ($ 40.64 million) in the six months to June compared to the same period in 2024, when it remained in a loss before tax and managed only a rare annual profit through deferred tax adjustments. The net profit for the current half of the year amounted to RS6.8 billion.
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The disclosure comes as Islamabad is pushing a new attempt to privatize the airline, a key condition under Pakistan’s IMF Bailout of $ 7 billion.
A corporate source said it was the state airline’s first such profit since 2004. Financial items before 2014 are no longer publicly available on the airline and stock exchange sites.
The planned sale of Pakistan International Airlines would mark the country’s first major privatization of about two decades, with the disposal of loss -making state companies a central plank of last year’s bailout.
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Lucrative British routes
Costs for high fuel and service roads continue, but a steep decline in financing costs after Islamabad took over that approx. 80% of Pia’s older debt last year was a decisive factor in its return to profit. Despite the winnings, Pia’s equity remains negative and emphasizes the fragility of its reversal.
An earlier privatization attempt collapsed last year after a single lowball offer was received, but the government has since drawn interest from five domestic business groups including AirBlue, Lucky Cement, Luke, PSX, investment company ARIF HABIB AHL, PSX and Military Backed Fauji Feeding Fauf. PSX. Final bids are expected later in the year.
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In July, Britain lifted a five-year ban on Pakistani airlines introduced after a deadly 2020 crash and a pilot license scandal, allowing Pia to apply for lucrative British routes. The move follows similar steps from the European Union at the end of the year.
Pia had previously estimated an annual loss of income of about 40 billion rupees from the British ban with London, Manchester and Birmingham among its most profitable routes.
