PIA privatisation: Private companies seek details on airline’s operations

KARACHI: Private companies interested in acquiring Pakistan International Airlines (PIA) have sought detailed information on the airline’s daily flight operations, ARY News reported on Friday, citing sources.

Sources told ARY News that the companies have also sought details of PIA’s daily flights, including domestic and international routes.

The private companies also sought information regarding airline’s revenue generated from premium flights and air service agreements with other countries. They have also requested for complete information of PIA’s aircraft fleet.

A day earlier, it was reported that PIA’s privatisation is expected to be finalised in September instead of August. The delay of PIA’s accounts is the reason behind the development.

Additionally, companies interested in the privatisation have not finished the due diligence process.

These interested companies are reportedly insisting on reopening routes to Europe. Sources suggest that an accurate valuation of PIA can only be determined if its European routes are active.

Six companies/ consortiums including Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol Consortium, and YB Holdings Consortium, have been pre-qualified in the process of PIA privatisation.