Turkish Airline shows interest to purchase Pakistan International Airlines
Islamabad, Hilal Ahmad, September 23, AZERTAC
A Turkish Airlines has shown its interest to purchase Pakistan International Airlines (PIA), the state air carrier of Pakistan. This was disclosed by Pakistan’s Minister of State for Finance Ali Pervaiz Malik during a television interview.
Pakistan International Airlines is currently burdened with a debt of approximately Rupees 800 billion ($2.9 billion) and has received multiple government bailout packages in the past few years. The Privatization Commission of Pakistan has already announced that the auction for Pakistan International Airlines (PIA) will take place on October 1, 2024.
He said that a Turkish airline has shown interest in the purchase of Pakistan International Airlines. Pakistan International Airlines (PIA) has faced financial challenges from the last many years and got financial bailouts from successive governments to carry out its operations.
Six bidders have been pre-qualified for the auction, including Fly Jinnah and Air Blue Limited. To facilitate the auction, the Privatization Commission of Pakistan plans to adjust the bidding rules. It is not yet clear which Turkish airlines is trying or interested in purchasing Pakistan International Airlines (PIA) which was in the past considered among the best global airlines.
The privatization of PIA has been a long-standing agenda of the incumbent government and the completion of the bidding process could pave the way for a new era for the national carrier of the country. It is worthy to mention that the Pakistan International Airlines has also helped in establishing the Emirates, the flag carrier of the United Arab Emirates in 1985.
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