PIA buyers get final deadline for extra 25% stake
“The consortium buying into PIA has until April 29 to decide on taking an extra 25 percent stake.”
Key points
- The consortium buying into PIA has until April 29 to decide on taking an extra 25 percent stake.
- The development marks a key step in the government’s attempt to finalize the airline’s privatization and management transition.
The consortium led by Arif Habib has been given until April 29 to decide whether it will purchase an additional 25 percent stake in Pakistan International Airlines. ProPakistani reported that the update was shared during a Senate committee meeting on privatization.
Officials said the buyer group has already started work on management planning, including the search for a new chief executive. The report also said Fauji Fertilizer Company could join the consortium, subject to approval by the cabinet committee on privatization.
A new holding structure has reportedly been created for running the airline after the transaction, and the government expects financial closing by the end of April. The deadline is being treated as an important milestone in Pakistan’s effort to complete a long-delayed privatization of the national carrier.
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