PIA has reported a pre-tax profit of Rs. 11.5 billion ($40.6 million) for the first six months of 2025. This is a major milestone for the national carrier, as it is the first time since 2004 that the airline has recorded such profits.
The improvement is mainly because the government took over most of PIA’s old debts, which reduced the airline’s financing costs. Lower debt pressure has given the airline some breathing space and allowed it to improve its financial results.
Even though the profit is a positive sign, PIA still faces serious challenges. The airline’s equity remains in the negative, which means its liabilities are still higher than its assets. This shows that the airline has a long way to go before it can achieve full financial stability.
The profit announcement comes at a time when the government is moving forward with plans to privatize PIA. The decision is part of broader economic reforms and commitments under the International Monetary Fund (IMF) bailout program.
Privatization is seen as a key step to bring in new investment, improve efficiency, and make the airline competitive again.
Several leading business groups in Pakistan have already shown interest in acquiring stakes in PIA. The final bidding process is expected to take place later this year.
For many, PIA’s profit is a hopeful sign that the airline can recover, but experts caution that true success will depend on how the privatization process is managed and whether long-standing structural issues are properly addressed.
