ISLAMABAD: The bidding process for the privatization of Pakistan International Airlines (PIA) is set for today (Thursday). Reports indicate that only one of the six pre-qualified bidders has submitted the necessary earnest money to take part in the bidding.
Initially, the Privatisation Commission pre-qualified six bidders: 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.
After a thorough review, these companies were shortlisted based on their technical, financial, and documentary qualifications, allowing them to move forward in the bidding process.
The successful bidder will have the opportunity to acquire between 51% and 100% of PIA’s share capital, along with management control.
PIA, a public limited company and the national flag carrier, is primarily government-owned, with the state holding approximately 96% of its issued capital.
Privatisation Secretary Usman Akhtar Bajwa was not available to confirm the exact number of bidders participating in the process.
As a full-service airline, PIA operates across various sectors, including passenger services, ground handling, flight training, cargo, engineering, and in-flight catering.
