PIA Privatization Bidding Set for Today with Single Participating Bidder
Bidding for the privatization of Pakistan International Airlines (PIA) begins today, with only one out of six bidders submitting earnest money. The winning bidder will acquire up to 100% of PIA’s shares, potentially transforming the aviation sector.
ISLAMABAD: The much-anticipated bidding process to privatize Pakistan International Airlines (PIA) is happening today (Thursday). Out of the six companies initially in the running, reports say that only one has submitted the required earnest money to stay in the game.
Originally, six bidders made it through the first round: Fly Jinnah, a consortium led by YB Holdings (Pvt) Ltd, Airblue Ltd, a group headed by Pak Ethanol (Pvt) Ltd, Arif Habib Corporation Ltd, and Blue World City. After a detailed review, these companies met the necessary technical, financial, and documentation requirements to move forward with due diligence.
The winning bidder will get a chance to acquire between 51% and 100% of PIA’s shares, along with control of the airline. Currently, the government holds a whopping 96% of PIA’s shares. However, Privatisation Secretary Usman Akhtar Bajwa hasn’t confirmed exactly how many bidders are still in.
As Pakistan’s national airline, PIA doesn’t just handle passengers—it’s also into ground services, cargo, flight training, engineering, and in-flight catering. This privatization could be a game-changer, not only for PIA but also for Pakistan’s aviation landscape.
Written by: Shah Behram Iftikhar (Punjab University)
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