Pakistan’s beleaguered PIA sold to private consortium: Could this be Pakistan International Airline’s Air India moment?

Pakistan’s beleaguered PIA sold to private consortium: Could this be Pakistan International Airline’s Air India moment?

PIA’s challenges are different from those Air India faced. The new consortium faces a challenge in turning around a carrier weighed down by debt, an ageing and dwindling fleet, and a bloated staff count.

Fauji Fertilizer joins Arif Habib Consortium in PIA privatization deal

Islamabad: Fauji Fertilizer Company is now part of the Arif Habib Consortium that is taking over the privatization process of the national carrier Pakistan International Airlines (PIA). This will add financial resources and corporate acumen to this troubled airliner. As per an official announcement, Fauji Fertilizer will also form part of the management team of the consortium with an initial investment of approximately PKR 125 billion in the ini…