04-30-2010, 12:39 PM
KARACHI: PIA’s 325th Board of Directors meeting approved the financial results for first quarter January–March 2010 on Thursday. The gross profit for the period was Rs 2.736 billion. PIA earned revenue of Rs 22.848 billion, which was 7.5 percent high as compared to the same quarter last year. The after tax loss was Rs 2.529 billion. Board took a serious note of the fact that the rate of increase in costs was higher than the corresponding rate of increase in the revenues during the period. Board reviewed the terms and conditions of service, benefits and facilities for cockpit crew. The Board directed the Managing Director that all departmental heads shall develop cost cutting/revenue enhancement plans pertaining to their respective departments and follow them up for implementation. staff report