RAWALPINDI: Federal Minister of Aviation Khawaja Asif has claimed that Pakistan International Airlines (PIA) flights to the UK will resume soon after clearance from the European Aviation Safety Agency by mid-May.

According to a press release issued by the Ministry of Aviation on Friday, the minister’s remarks were based on conversations with “relevant quarters”.

The minister also hoped that EASA’s clearance to fly to Europe would make the national carrier more valuable and attractive to private investors.

The ministry’s press release said Mr Asif and Minister for Privatisation Abdul Aleem Khan chaired a consultative meeting on the privatisation of the national flag carrier.

The secretaries of aviation privatisation and finance divisions attended the meeting.

A team from advisory firm Ernst & Young (EY), which is leading the privatisation process, presented a summary of the restructuring and segregation plan, which was being carried out with the cabinet’s approval.

The financial advisors highlighted different pre- and post-bidding areas of concern about core and non-core assets and liabilities and presented phase-wise solutions.

The meeting also discussed challenges and risks, including debt reprofiling with commercial banks, a six-month cash flow plan and a transfer of liabilities to a holding company.

The privatisation minister also emphasised swift completion of the privatisation process, the statement added.

Published in Dawn, March 23rd, 2024

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