Privatisation of PIA to be completed in three months: minister
Business
Pakistan hopes to fly on new European routes
ISLAMABAD (Web Desk) - Federal Minister for Privatisation Abdul Aleem Khan said on Thursday the privatisation process of loss-making national flag carrier Pakistan International Airlines (PIA) would be completed in three months.
“Federal minister further mentioned that to make PIA’s privatisation more attractive, a new roadmap is being provided and it is expected that all stages of this privatisation process will be completed within the next three months,” Khan’s office said in a statement after he met the Australian High Commissioner to Pakistan and discussed the privatisation of PIA.
Last year, PIA resumed operations in Europe after a 2020 ban by the European Union Aviation Safety Agency (EASA) over concerns about the ability of Pakistani authorities and its Civil Aviation Authority (PCAA) to ensure compliance with international aviation standards.
EASA and UK authorities both suspended permission for PIA to operate in the region after Pakistan began investigating the validity of pilots’ licences following a plane crash that killed 97 people.
Pakistan hopes new European routes and flying approval to the UK will boost PIA’s selling potential.
“The privatisation minister emphasised that there is an expectation of better expressions of interest from investors this time around as the introduction of PIA flights to Europe has made the privatisation environment even more lucrative and favourable,” the statement said.
“Due to recent measures, the national airline is ready to become profitable again.”
Khan added that PIA flights to the UK would also begin in three months.
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