PIA shareholders endorse transfer amid privatization plans
Shareholders of Pakistan International Airlines (PIA) Corporation Limited gather for an extraordinary annual meeting, greenlighting the transfer of shares to PIA Holding Limited. Key government officials attend the meeting, signaling strong support for the national carrier’s revitalization.
During the session, PIA’s Chairman and Chief Executive Officer (CEO) highlight the company’s recent achievements, citing increased share value and operational profits after over a decade. Additionally, plans for resuming operations in Europe and the UK by June 2024 are announced pending ongoing audit clearance.
Notably, all financial liabilities of the National Airline have been settled ahead of privatization, marking a significant milestone.
Sources indicate that three Gulf countries, including the UAE, Saudi Arabia, and Qatar, have expressed interest in acquiring Pakistan International Airlines (PIA) amid the government’s privatization efforts, signaling a potential turnaround for the cash-strapped airline.
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