PIA bidding set for today with single buyer

Published October 31, 2024
PIA will be the first state-owned entity to be privatised under the 2024-29 privatisation programme.—Dawn/file
PIA will be the first state-owned entity to be privatised under the 2024-29 privatisation programme.—Dawn/file

ISLAMABAD: The bidding for the privatisation of Pakistan International Airlines (PIA) is scheduled for today (Thursday), with reports suggesting that only one of the six pre-qualified bidders has submitted the required earnest money to participate in the process.

The Privatisation Comm­is­sion had initially pre-qualified six bidders, including Fly Jinnah, a consortium led by YB Hol­dings (Pvt) Ltd, Airblue Ltd, a consortium led by Pak Ethanol (Pvt) Ltd, Arif Habib Corporation Ltd, and Blue World City.

After extensive review, the board of the Privat­isat­ion Commission shortlisted these companies based on technical, financial and documentary requ­i­­reme­nts, inviting them to proceed with the next stage of the bidding process to start buy-side due diligence.

The successful bidder will be eligible to acquire between 51pc and 100pc of PIA’s share capital, along with management control.

PIA, a public limited company and natio­nal flag carrier, is largely government-owned, with the government holding about 96pc of its issued capital. Privatisation Secre­tary Usman Akhtar Bajwa was unavailable to confirm the exact number of bidders participating in the process.

As a full-service airline, PIA operates in various business segments, including passenger services, ground handling, flight training, cargo, engineering and in-flight catering.

Published in Dawn, October 31st, 2024

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Revamping the ecosystem

Revamping the ecosystem

Key to high-quality performance of public sector institutions lies in attracting, retaining and motivating civil servants of high calibre throughout the system.

Editorial

Rain havoc
Updated 19 Jul, 2025

Rain havoc

Thursday’s events must be seen not as an isolated disaster, but as a warning of what lies ahead.
Shattered Strip
19 Jul, 2025

Shattered Strip

THE Gaza siege has now crossed 650 days and the situation continues to take one ugly turn after another. True, even...
Battling drugs
19 Jul, 2025

Battling drugs

PAKISTAN’s war on drug trafficking has been ongoing for several years. But the country remains awash in the ...
Soaring again
Updated 18 Jul, 2025

Soaring again

The lifting of the ban by the UK will lead to several welcome developments.
Terror in Kalat
18 Jul, 2025

Terror in Kalat

THE unrest in Balochistan is increasingly taking on an ugly and dangerous colour, with repeated, indiscriminate...
Economic exclusion
18 Jul, 2025

Economic exclusion

FOR all the progress made in Pakistan towards the inclusion of women across the sociopolitical divide, comprehensive...