Pakistan International Airlines Corporation Limited Reports Unaudited Unconsolidated and Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2020
November 05, 2020 at 06:17 am EST
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Pakistan International Airlines Corporation Limited reported unaudited unconsolidated and consolidated financial results for the second quarter and six months ended June 30, 2020. For the quarter, the parent company reported loss from operations of PKR 8,378,895,000 and loss for the period of PKR 19,512,016,000 or PKR 3.73 per class A ordinary share and PKR 1.86 per class B ordinary share on revenue - net of PKR 15,028,402,000 against loss from operations of PKR 2,803,673,000 and loss for the period of PKR 26,004,311,000 or PKR 4.97 per class A ordinary share and PKR 2.48 per class B ordinary share on revenue - net of PKR 35,164,603,000 for the same period of last year.
For the six months, the parent company reported loss from operations of PKR 10,025,300,000 and loss for the period of PKR 36,900,798,000 or PKR 7.05 per class A ordinary share and PKR 3.52 per class B ordinary share on revenue - net of PKR 51,471,360,000 against loss from operations of PKR 7,121,568,000 and loss for the period of PKR 37,892,369,000 or PKR 7.24 per class A ordinary share and PKR 3.62 per class B ordinary share on revenue - net of PKR 65,923,687,000 for the same period of last year.
For the quarter, the group reported loss from operations of PKR 9,351,145,000 and loss for the period of PKR 20,630,161,000 or PKR 3.94 per class A ordinary share and PKR 1.97 per class B ordinary share on revenue - net of PKR 16,252,069,000 against loss from operations of PKR 2,348,345,000 and loss for the period of PKR 26,058,002,000 or PKR 4.98 per class A ordinary share and PKR 2.49 per class B ordinary share on revenue - net of PKR 40,279,238,000 for the same period of last year.
For the six months, the group reported loss from operations of PKR 12,596,079,000 and loss for the period of PKR 39,893,281,000 or PKR 7.62 per class A ordinary share and PKR 3.81 per class B ordinary share on revenue - net of PKR 55,228,827,000 against loss from operations of PKR 7,234,609,000 and loss for the period of PKR 38,562,656,000 or PKR 7.37 per class A ordinary share and PKR 3.69 per class B ordinary share on revenue - net of PKR 73,707,715,000 for the same period of last year.
PIA Holding Company Ltd is a Pakistan-based company that provides commercial air transportation services, which includes passenger, cargo, and postal carriage services. Other activities of the Company include the provision of engineering and allied services. Its business units include Cargo, Precision Engineering and Ground Handling. Cargo's offerings cover multiple domestic and international destinations and operate a fleet of B777s and A320s to carry freight to different destinations. Cargo transports a range of commodities across Pakistan as well as to several global destinations. Its Precision Engineering Complex (PEC) manufactures high precision parts for the aerospace industry and several other industries. The PEC includes investment casting, conventional and CNC machining, Optics, PCB, Electrical, Electronics and Composites. Its Ground handling services include passenger handling, ramp handling, cargo handling, and flight operations, among others.
Pakistan International Airlines Corporation Limited Reports Unaudited Unconsolidated and Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2020