Pakistan’s Privatization Commission has decided to hold bidding for the privatization of Pakistan International Airlines (PIA) in early November, despite delays in the due diligence process caused by recent floods.
Officials said four pre-qualified bidders are currently reviewing financial and operational data, with access granted to the airline’s virtual data room. After completing due diligence, investors will be allowed to submit further queries.
Between 51% and 100% of the national carrier’s shares are being offered for sale. A consortium led by Arif Habib has faced delays in its review, while a group of cement manufacturers, Fauji Fertilizer and Airblue have already completed initial assessments, according to officials.
The Cabinet Committee on Privatization approved the transaction structure in March this year.
PIA reported a profit of more than Rs7 billion this year, compared with a loss of Rs7.8 billion in 2024. Officials attributed the turnaround partly to the restoration of European and U.K. flight routes, which boosted the airline’s business.
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