PIA privatisation gains momentum with 'bidder company visit'

KARACHI: Pakistan International Airlines (PIA) privatisation process has gained further momentum, as one of the bidding companies is scheduled to visit the PIA head office starting today (Thursday), ARY News reported, citing sources.

Sources reveal that the visiting company will inspect PIA aircraft and will be granted access to key airline records for evaluation purposes.

The company officials are also expected to tour other critical PIA facilities tomorrow.

Additionally, sources from PIA confirmed that delegations from two more interested companies will be visiting PIA installations next week as part of the ongoing due diligence process.

The Pakistan International Airlines privatisation process accelerated after the approval of four bidders by the Privatisation Commission Board for due diligence in its 237th meeting.

The meeting was chaired by Muhammad Ali, Advisor to the Prime Minister on Privatisation. The Cabinet Committee on Privatisation also authorised the transaction structure for the Roosevelt Hotel, and the review for another key asset is underway.

According to the recent reports, 51 to 100 percent shares of PIA, including management control, are being offered by the government to attract qualified and reliable investors.

The shortlisted bidders can now access a virtual data room and will perform comprehensive assessments over the next two months before the submission of final bids in Q4 20251.