Pakistan International Airlines (PIA) extended the deadline for submitting Expressions of Interest (EoI) for its privatisation to June 19, 2025, from June 3, citing investor challenges during the Eidul al-Adha holidays.
The move, made in consultation with financial advisors, aims to attract global buyers as PIA’s Class B shares soar past Rs22,000, raising regulatory scrutiny.
The Privatisation Commission, which is managing the sale of Pakistan International Airlines (PIA), has confirmed a 15-day extension to accommodate potential investors. The sale will focus exclusively on private buyers, with no provincial or government-to-government deals involved. To promote PIA’s potential, roadshows will be held in the Middle East, showcasing the airline’s recent profitability, independent engine maintenance, and effective aircraft payment management. A source stated, “PIA offers significant profit potential,” highlighting its financial turnaround..
PIA’s Share Price Surge Raises Questions
PIA Holding Company’s Class B shares surged by over Rs18,000 in a month, crossing Rs22,000, prompting inquiries from the Pakistan Stock Exchange (PSX) and Securities and Exchange Commission of Pakistan (SECP).
According to The Express Tribune, PIA management denied knowledge of factors driving the spike, which has sparked concerns about speculative trading or undisclosed actions. Regulatory authorities are investigating to ensure market transparency.
PIA’s privatisation is seen as a boost for Pakistan’s economy, reducing fiscal burdens while leveraging the airline’s operational improvements. Economist Dr. Bilal Khan from LUMS states, “A successful PIA sale could attract foreign investment, but transparency is critical to maintain trust.”
Interested investors must submit EoIs by June 19, with Middle East roadshows set to intensify outreach.
