PIA mixed bag as oil prices cause a stir

Pakistan International Airlines (PIA) managed to beat expectations to narrow losses by 44.89% to Rs10.131 billion for the six months to June 2014 year on year. Figures were buoyed by an 11% increase in revenues to Rs53.34 billion, gross profit stands at Rs338 million for January-June 2014 this indicates better fleet management during the period. Figures were waxed somewhat by a Rs5.23 billion exchange gain as the rupee strengthened against the US dollar during the first quarter.  PIA cannot escape the fact that its books are at the mercy of exchange rates, this year it has posted a gain but