ISLAMABAD – The federal government has appointed Asad Rasool as the new chief executive officer (CEO) of PIA Holding Company Limited (PIAHCL).
The Pakistan Stock Exchange (PSX) has been informed that the new CEO is taking charge from April 10, 2025. Asad Rasool has replaced AVM Muhammad Amir Hayat.
PIA Holding Company Limited (PIAHCL) is a public limited company incorporated under the laws of Pakistan and regulated by the Securities and Exchange Commission of Pakistan (SECP). Pursuant to the Scheme of Arrangement (SOA) sanctioned by the SECP, PIAHCL serves as the holding company for Pakistan International Airlines Corporation Limited (PIACL) and its subsidiaries, including PIA Investments Limited, Skyrooms (Private) Limited, and Sabre Travel Network Pakistan (Private) Limited.
The development comes days after the national carrier recorded a remarkable turnaround in 2024, achieving net profitability for the first time in 21 years.
PIA recorded an operational profit of Rs3.9 billion and a net profit of Rs2.26 billion for the year.
Prime Minister Shehbaz Sharif has also expressed satisfaction over the profit recorded by the Pakistan International Airlines (PIA) for first time in two decades.
In a post on his X handle, he called it as a major turnaround after decades of losses. “The skies ahead look brighter, Inshallah,” he wrote.
He also lauded Minister for Defence Khawaja Asif and his team in the aviation.
Earlier, Asif shared details of the major financial milestone achieved by the national carrier after 21 years.
