{"id":11296,"date":"2025-08-20T10:51:40","date_gmt":"2025-08-20T05:51:40","guid":{"rendered":"https:\/\/ksestocks.com\/blog\/?p=11296"},"modified":"2025-08-20T10:51:43","modified_gmt":"2025-08-20T05:51:43","slug":"pia-holding-company-limited-piahcl-fy24-in-focus","status":"publish","type":"post","link":"https:\/\/ksestocks.com\/blog\/pia-holding-company-limited-piahcl-fy24-in-focus\/","title":{"rendered":"PIA Holding Company Limited (PIAHCL): FY24 in Focus"},"content":{"rendered":"\n

PIA Holding Company Limited (PIAHCL<\/a>) <\/strong>shared its results for FY24, and the numbers show both challenges and opportunities across its businesses. Here\u2019s a breakdown in simple words.<\/p>\n\n\n\n

Strong profits from the Roosevelt Hotel<\/h2>\n\n\n\n

The big driver of earnings was the Roosevelt Hotel in New York<\/strong>, which is currently being used as a migrant shelter<\/strong> under a contract with the City of New York. Thanks to this, the company posted a profit after tax (PAT) of PKR 7 billion<\/strong> on a total revenue (topline) of PKR 34.7 billion<\/strong>.<\/p>\n\n\n\n

But there\u2019s a catch: this contract can be ended with just 120 days\u2019 notice<\/strong>. Since the hotel is old and located in a prime area, it also needs regular investment for upkeep.<\/p>\n\n\n\n

Skyrooms, Karachi Airport Hotel<\/h2>\n\n\n\n

PIA also runs the Airport Hotel in Karachi<\/strong> under the Skyrooms brand. While it hosted 41,000 guests<\/strong> in FY24 (mostly PIA-related travelers), the hotel still reported a loss of PKR 65.6 million<\/strong> despite generating PKR 272 million in revenue. The good news is that the hotel\u2019s capacity expanded to 208 rooms<\/strong> after renovations, and it also recovered PKR 33 million in tax refunds<\/strong>.<\/p>\n\n\n\n

Sabre travel network<\/h2>\n\n\n\n

Sabre, PIA\u2019s travel booking platform, recorded PKR 726 million in commissions<\/strong> during the year. However, its profits fell to PKR 2.5 million<\/strong> compared to PKR 8.5 million in the previous year.<\/p>\n\n\n\n

Why the decline?<\/p>\n\n\n\n

    \n
  • Fewer bookings by regular clients<\/li>\n\n\n\n
  • Temporary unavailability of Turkish Airlines content<\/li>\n<\/ul>\n\n\n\n

    On the positive side, Sabre managed to:<\/p>\n\n\n\n

      \n
    • Add 25+ new clients<\/strong> (expected to generate ~50,000 annual bookings)<\/li>\n\n\n\n
    • Renew 35+ customers<\/strong> (covering 150,000+ bookings annually)<\/li>\n\n\n\n
    • Introduce direct booking options with Emirates and Oman Air<\/strong><\/li>\n<\/ul>\n\n\n\n

      In total, 1.19 million bookings<\/strong> were made through the platform in FY24, slightly lower than 1.25 million last year<\/strong>.<\/p>\n\n\n\n

      Key risks<\/h2>\n\n\n\n

      PIAHCL businesses depend heavily on:<\/p>\n\n\n\n

        \n
      • International tourism trends<\/li>\n\n\n\n
      • Smooth airline operations<\/li>\n\n\n\n
      • Exchange rates (though exchange losses fell sharply<\/strong> to PKR 2.4 billion in FY24 from PKR 26 billion last year).<\/li>\n<\/ul>\n\n\n\n

        PIA Holding Company\u2019s FY24 performance shows that while the Roosevelt Hotel is driving profits<\/strong>, other businesses like Skyrooms and Sabre are struggling with challenges. Diversification is good, but sustainability depends on steady tourism, flight activity, and maintaining contracts like the Roosevelt deal.<\/p>\n\n\n\n

        For now, the group remains profitable, but the future will depend on how well it manages risks and continues to adapt.<\/p>\n\n\n\n

        Source: Taurus Securities Limited<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

        PIA Holding Company Limited (PIAHCL) shared its results for FY24, and the numbers show both challenges and opportunities across its businesses. Here\u2019s a breakdown in simple words.<\/p>\n","protected":false},"author":11,"featured_media":6892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[154,138],"tags":[407],"class_list":["post-11296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-financials","tag-piahcl"],"featured_image_src":{"landsacpe":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/11\/PIAHCLA-STOCK-PSX-1140x445.png",1140,445,true],"list":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/11\/PIAHCLA-STOCK-PSX-463x348.png",463,348,true],"medium":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/11\/PIAHCLA-STOCK-PSX-300x188.png",300,188,true],"full":["https:\/\/ksestocks.com\/blog\/wp-content\/uploads\/2024\/11\/PIAHCLA-STOCK-PSX.png",1920,1200,false]},"_links":{"self":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/11296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/comments?post=11296"}],"version-history":[{"count":1,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/11296\/revisions"}],"predecessor-version":[{"id":11297,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/posts\/11296\/revisions\/11297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/media\/6892"}],"wp:attachment":[{"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/media?parent=11296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/categories?post=11296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ksestocks.com\/blog\/wp-json\/wp\/v2\/tags?post=11296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}