The privatization of Pakistan International Airlines (PIA) is now expected to be finalized in September 2024, a month later than initially planned. Sources familiar with the development report that delays in PIA’s accounts and unfinished due diligence by interested companies have caused this postponement.
These potential investors, including six pre-qualified companies such as Air Blue, Arif Habib Corporation, and Fly Jinnah, are advocating for the reopening of European routes. They argue that an accurate valuation of PIA hinges on the activation of these routes.
Earlier, Finance Minister Muhammad Aurangzeb expressed optimism that the privatization would be completed by July. On July 9, the National Assembly’s standing committee on Aviation was informed that the process was nearly complete.
Also read: “If Ali Sheikhani Buys K-Electric, I’ll Buy PIA & Start A Free Airline”: Saad Hashmani
The Civil Aviation Authority (CAA), which operates 22 of Pakistan’s 43 airports, including 13 international ones, has faced budget constraints for years. Consequently, the CAA relies on second-generation equipment, while developed countries use the latest third-generation technology.
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