The national flag carrier Pakistan International Airlines is set to undergo privatization as the Privatization Commission of Pakistan has initiated the process by inviting expressions of interest from global firms to acquire a significant 51% shares in the airline.
In order to offload PIA’s 51 percent shares, the Privatization Commission has invited bids from interested parties till May 3.
The deadline for the submission of applications has been fixed for May 3, 2024. The successful bidder will not only secure a major shareholding but also gain complete management control over PIA.
Established in 1955, PIA holds a prestigious legacy within Pakistani aviation. Its remarkable journey includes transporting over 20 million passengers by the year 2023.
Presently, PIA operates a robust network of 260 weekly flights, spanning 97 international routes, and serving 34 diverse destinations. Annually, the airline handles a substantial passenger volume of 5 million travellers.
Interested companies keen on participating in the bidding process are required to remit a non-refundable fee of $5,000 to the Privatization Commission.
