During an exceptional annual meeting convened at the PIA Training Center, shareholders of Pakistan International Airlines (PIA) Corporation Limited gave their approval for the transfer of shares to PIA Holding Limited.
The meeting was graced by the presence of notable figures including the Federal Secretary of Privatization Commission, Secretary of Aviation, and Financial Advisor, who participated in the voting process.
In his address to the attendees, the Chairman and CEO of PIA underscored the organization’s strides, highlighting a substantial increase in share value and achieving operating profit after a lapse of 13 years.
Furthermore, the CEO disclosed plans for the government to kickstart operations in Europe and the UK by June 2024, contingent upon the completion of an ongoing audit.
The government’s unwavering commitment to revitalizing PIA was evident with the participation of high-ranking officials, emphasizing the significance of rejuvenating the national carrier.
It is noteworthy that all financial losses and debts incurred by the National Airline have been settled, having been transferred to the holding company prior to privatization.
According to sources, all obstacles hindering the privatization of PIA have been resolved.
In a significant development, three Gulf countries, namely the United Arab Emirates, Saudi Arabia, and Qatar, have expressed interest in acquiring the financially challenged Pakistan International Airlines (PIA) as the government expedites its privatization plans.
