Business Desk 
May 14, 2025
Pakistan International Airlines (PIA), the nation's flag carrier, has pulled off a tremendous turnaround by earning its first yearly profit in over two decades.
The troubled carrier, which once was synonymous with losses and downgraded services, is now flying back to solid ground.
Parliamentary Secretary Zeb Jaffar made the announcement in the National Assembly's Question Hour on Wednesday.
She stated that PIA has been running in profit since March 2024 and has also restarted flights to European cities, such as Paris.
The reversal comes after years of reversals, including a bruising ban following inflammatory comments by a former aviation minister in 2020.
The ban, enforced by the European Union Aviation Safety Agency (EASA), had suspended a number of international routes by PIA.
However, the reason was ex-minister Ghulam Sarwar Khan's comment regarding pilot licensing, which hampered the airline's international business and image drastically.
Now, with renewed focus on EASA, flights to Europe are on track again. Negotiations with the UK aviation regulators are also underway.
The government is expecting PIA's resurgence to be followed by even more international collaborations and routes.
One of these is negotiations with Turkish Airlines for enhancing global connectivity for Pakistani travelers.
PIA has already begun new direct flights from Lahore to Azerbaijan's Baku, with the aim of increasing tourism and international connectivity.
Moreover, the government intends to expand PIA's business in profitable markets such as the Middle East and North Africa.
As per financial reports seen by Bloomberg, PIA recorded earnings per share of Rs5.01 for 2023, its first profit since 2003.
Furthermore, authorities say the total effect of this turnaround will become clearer in the coming months, as the airline paves the way for privatisation and expansion.
