The Privatisation Commission initially pre-qualified six potential bidders, including well-known names like Fly Jinnah, a consortium led by YB Holdings (Pvt) Ltd, Airblue Ltd, another consortium led by Pak Ethanol (Pvt) Ltd, Arif Habib Corporation Ltd, and Blue World City. These companies went through a thorough review process, where they were assessed on technical, financial, and documentation requirements before being invited to take part in the buy-side due diligence phase of the bid.
The winning bidder could acquire between 51% to 100% of PIA’s shares, along with management control.
PIA, Pakistan’s national airline, is mostly government-owned, with around 96% of its shares held by the state. As a full-service airline, PIA operates in various areas, including passenger services, ground handling, flight training, cargo, engineering, and in-flight catering. However, the exact number of companies that will be participating remains unclear, as Privatisation Secretary Usman Akhtar Bajwa was unavailable for comment.
Click here for the latest updates and news.
Stay connected with Rabt Marketing.