PIA privatisation plan revived after airline posts rare profit

Malaysia Airlines Secures Third Consecutive Year of Profitability in 2024

Kuala Lumpur, April 20 - Malaysia Airlines, part of the Malaysia Aviation Group (MAG), has achieved financial success again. In 2024, the airline made a profit for the third straight year, despite tough times in the global aviation industry. They reported a net profit of MYR54 million (around USD12.2 million), with an operating profit of MYR113 million (USD25.6 million) and an EBITDA of MYR788 million (USD178.8 million). This strong performance,…

PIA privatisation plan revived after airline posts rare profit

ISLAMABAD: Pakistan will issue a fresh call for expressions of interest (EOIs) next week for the privatisation of Pakistan International Airlines (PIA), the Privatisation Ministry announced on Friday. The move comes shortly after the state-owned carrier reported its first annual profit in over 20 years. The government plans to offload between 51 and 100 per cent of its stake in the airline, which has long been burdened by heavy debt and financia…