Ten companies express interest in buying PIA

ISLAMABAD – Ten companies have shown interest in purchasing the majority ownership of Pakistan International Airlines (PIA) which is being privatized.

Among these companies, three domestic aviation firms have also submitted their requests for tenders. These companies are eager to acquire significant stakes in PIA, a loss-making entity of the state.

As the privatization process continues, private carriers and others including Fly Jinnah, AirSial, Arif Habib Group, Shujaat Azeem Group’s consortium, Tabba, Tariq Group, and Sehgal Group are also interested in securing major shares of PIA. This suggests that the potential investment value in PIA could lead to significant changes in the airline’s ownership structure.

Regarding the privatization of PIA, the deadline to submit the Expression of Interest was initially May 3rd but has now been extended to May 18th. The purpose of this extension is to provide more time for companies to finalize their plans and submit their tender.

Meanwhile, Minister for Privatization, Abdul Aleem Khan, has stated that there will be no extra time given after May 18th for firms to express their interest in purchasing the national airline.

The government seems determined to privatize the airline owing to the losses which have accumulated over decades. Privatizing PIA is viewed as a critical step towards revitalizing the struggling airline and placing it on a path toward sustainable growth. During the caretaker setup, the process was initiated though the calls for privatising the airline were made when Khawaja Saad Rafique was the minister during the regime of the Pakistan Democratic Movement.