The privatization bidding for Pakistan International Airlines (PIA) is set for today, indicating that only one of the six pre-qualified bidders has deposited the necessary earnest money to engage in the process.
Initially, the Privatisation Commission pre-qualified six contenders, including Fly Jinnah, a consortium led by YB Holdings (Pvt) Ltd, Airblue Ltd, a consortium led by Pak Ethanol (Pvt) Ltd, Arif Habib Corporation Ltd, and Blue World City.
Following a thorough evaluation, the Privatisation Commission board shortlisted these entities, assessing their technical, financial, and documentary capabilities, and invited them to commence the next phase, which includes buy-side due diligence.
The successful bidder will have the opportunity to acquire between 51% and 100% of PIA’s share capital and gain management control.
The national flag carrier PIA remains predominantly government-owned, with the state holding about 96% of its issued capital. Privatisation Secretary Usman Akhtar Bajwa could not be reached to confirm the number of bidders actively participating.
As a full-service carrier, PIA operates across multiple business sectors, including passenger services, ground handling, flight training, cargo, engineering, and in-flight catering.
