Pakistan Draws Five Potential Buyers for National Airline PIA, Including Military-Backed Group

Pakistan draws five potential buyers for national airline PIA, including military-backed group

ISLAMABAD :In its efforts to sell its struggling national airline, Pakistan has received expressions of interest from five parties, including business groups and a military-backed firm, the Privatisation Ministry said on Thursday.The bids were submitted ahead of a June 19 deadline to acquire up to 100 per cen

Military-Linked Firm and Four Others Express Interest in PIA Sale

ISLAMABAD: Pakistan’s Privatization Ministry announced on Thursday that five parties, including a military-affiliated company and various business groups, have shown interest in purchasing its struggling national airline, Pakistan International Airlines (PIA).   These expressions of interest were submitted before the June 19 deadline to acquire up to 100% ownership of PIA, which has faced losses exceeding $2.5 billion over the past decade.  Desp…

8 powerhouses compete for PIA acquisition battle heats up

The privatization of Pakistan International Airlines (PIA) has taken a significant step forward. Eight companies and consortiums have expressed interest in acquiring the national carrier. By the June 19 deadline, the Privatization Commission received qualification documents from five entities. This moves the privatization process into its next phase. Interested Parties and Consortiums The companies and groups interested in purchasing PIA include…

From Arif Habib to Fauji Fertilizer: Which Bigwigs are lining up to take over PIA? - Pakistan Observer

ISLAMABAD – Pakistan’s loss making state-owned entity PIA was once a symbol of national pride and but is now a burden on public finances and is back on auction block, and big guns are flocking together to get a chunk amid privatization push. In a dramatic turn of events, five heavyweight bidders have thrown their hats into the ring as government received Statements of Qualification from five parties for majority stake in Pakistan’s national air …

PIA sell-off: Fauji Fertilizer, Air Blue, and 3 consortiums submit Statements of Qualification

As Pakistan government proceeds with a fresh attempt to privatise the Pakistan International Airlines (PIA), Fauji Fertilizer, Air Blue, and 3 consortiums have submitted the Statements of Qualification (SOQs), showing their interest in acquiring a stake in the national carrier. The development comes as the deadline to submit SoQs for having 51% to 100% share capital of the Pakistan International Airlines Corporation Limited (PIACL) ended on Thur…

PIA Privatization Bid Draws Interest from Airblue, Gerry’s

The PIA privatization bid has attracted significant interest from several major players in Pakistan’s aviation and business sectors, with Airblue Ltd. and Gerry’s Group confirming their participation, Bloomberg reported on Thursday. According to the report, Airblue Managing Director Aslam Chaudhary and Gerry’s Group Managing Director Akram Wali Muhammad both expressed their intent to bid for a 51% to 100% stake in Pakistan International Airlines…