PIA privatization bids deadline extended due to Eidul Adha 2025

ISLAMABAD: The deadline for submitting Expressions of Interest (EoI) for the privatization of Pakistan International Airlines (PIA) has been extended to June 19, 2025, ARY News reported.

According to the official statement, the original deadline was set for June 3, 2025, but sources cited difficulties faced by potential investors due to the Eidul Adha 2025 holidays as the reason for the 15-day extension.

The decision was made in consultation with financial advisors to facilitate investors, the sources added.

According to sources, the privatization process will not involve any provincial government participation, and no government-to-government negotiations are underway, ruling out any possibility of a government-to-government purchase.

Sources revealed that roadshows are planned in the Middle East to promote PIA’s privatization to attract international investors. Sources emphasized that privatizing PIA is beneficial for both the airline and Pakistan’s economy, noting that the carrier has been operating profitably for several months and is independently managing engine maintenance, repairs, and aircraft payments.

The sources further stated that PIA’s privatization offers significant profit potential for prospective buyers, with the airline now positioned for greater financial returns compared to previous years.

It is important to mention here that the value of Class B shares of Pakistan International Airlines (PIA) Holding Company witnessed an extraordinary increase.

PIA Holding Company’s shares crossed the Rs22,000 mark per share — a rise of over Rs 18,000 within just one month. The unexpected surge has drawn the attention of regulatory authorities.

In response to a notice from the Pakistan Stock Exchange (PSX), the PIA management submitted a formal reply stating that they are unaware of any developments or information that could justify such a sharp rise in share value.

Both the Securities and Exchange Commission of Pakistan (SECP) and the PSX have formally sought an explanation from PIA, as the spike in share prices has raised questions about possible speculative activity or undisclosed corporate actions.