Pakistan Draws Five Potential Buyers for National Airline PIA, Including Military-Backed Group

PIA draws five bids as Pakistan pushes first major privatisation in decades

Pakistan draws interest from five parties for PIA sale.Bidders include Lucky Cement, Arif Habib, Airblue.Govt offering 100% stake, debt offloaded.In its efforts to sell its struggling national airline, Pakistan has received expressions...

Five bids received for PIA privatization

ISLAMABAD: Pakistan’s leading business groups, with interests in cement, power, fertilizer, and real estate, have shown interest in acquiring the struggling Pakistan International Airlines (PIA), raising hopes for the success of its second privatization attempt. Business giants like Lucky Cement, Arif Habib conglomerate, and Hub Power, alongside military-owned Fauji Fertilizer Company and the Pakistan Navy’s Bahria Foundation, have submitted bid…

Pakistan draws five potential buyers for national airline PIA, including military-backed group

ISLAMABAD :In its efforts to sell its struggling national airline, Pakistan has received expressions of interest from five parties, including business groups and a military-backed firm, the Privatisation Ministry said on Thursday.The bids were submitted ahead of a June 19 deadline to acquire up to 100 per cen

Foreign buyers bid for Lulutai as rival governments spar over who managed the airline better

The Lulutai Airlines dispute escalates as lawmakers contrast the former and current PMs’ management of the national carrier. It follows the Eke government’s announcement that the domestic airline has been restored to full operations after its previous financial and operational troubles. PM Eke opted against imposing additional taxpayer burdens, excluding both airline funding and further […] The post Foreign buyers bid for Lulutai as rival govern…

Potential buyers unveiled as PIA bid deadline nears

Eight entities have submitted expressions of interest (EOIs) to buy PIA - Pakistan International Airlines (PK, Islamabad International) ahead of a June 19 deadline, government sources told Reuters. However, only five of the eight entities provided supporting documents of qualification. The bidding entities include a consortium comprising Lucky Cement Ltd, Hub Power Holdings Ltd, Kohat Cement Co Ltd, and Metro Ventures. Arif Habib Corp Ltd heads …