PIA Privatization

[ghazi52]

Real estate developer Blue World City cleared to bid for PIA, company chairman says​

Reuters
October 30, 2024

KARACHI: A Pakistani real estate development company said on Wednesday it had completed requirements to enter the bidding process for a stake in the country’s flag carrier, Pakistan International Airlines (PIA), scheduled for later this week.

The cash-strapped Pakistan government, which is looking to privatise the loss-making airline, said earlier this month six companies had been shortlisted as potential bidders.

But only one company met a Tuesday deadline to submit “earnest money” prior to final bidding, Bloomberg reported on Tuesday, citing a Privatisation Commission official.

Chairman of Blue World City, Saad Nazir, confirmed to Reuters in a text message that his company is the only one to enter the final bidding process, declining to disclose the earnest money it had submitted.

The privatisation ministry did not immediately reply to request for comment outside business hours.

Islamabad has previously said it was putting on the block a stake of between 51% and 100% in the debt-ridden airline as part of reforms urged by the International Monetary Fund.

Blue World City, a real estate developer, has a consortium that includes Blue World Aviation and IRIS Communication Limited.

Nazir said the group is also looking into acquiring operations of the Islamabad International Airport which the government is looking to outsource.

The group is in talks with global aircraft manufacturers and airport operators, including Chinese and Turkish companies, he said.

 

[Akbar26]

Real estate developer Blue World City cleared to bid for PIA, company chairman says​

Reuters
October 30, 2024

KARACHI: A Pakistani real estate development company said on Wednesday it had completed requirements to enter the bidding process for a stake in the country’s flag carrier, Pakistan International Airlines (PIA), scheduled for later this week.

The cash-strapped Pakistan government, which is looking to privatise the loss-making airline, said earlier this month six companies had been shortlisted as potential bidders.

But only one company met a Tuesday deadline to submit “earnest money” prior to final bidding, Bloomberg reported on Tuesday, citing a Privatisation Commission official.

Chairman of Blue World City, Saad Nazir, confirmed to Reuters in a text message that his company is the only one to enter the final bidding process, declining to disclose the earnest money it had submitted.

The privatisation ministry did not immediately reply to request for comment outside business hours.

Islamabad has previously said it was putting on the block a stake of between 51% and 100% in the debt-ridden airline as part of reforms urged by the International Monetary Fund.

Blue World City, a real estate developer, has a consortium that includes Blue World Aviation and IRIS Communication Limited.

Nazir said the group is also looking into acquiring operations of the Islamabad International Airport which the government is looking to outsource.

The group is in talks with global aircraft manufacturers and airport operators, including Chinese and Turkish companies, he said.

1970میں پی آئی اے پورے جوبن پر تھا۔ ‏ہر 6 منٹ میں دنیا میں کہیں نہ کہیںPIA کا جہاز آسمان کی بلندیوں کو چھو رہا ہوتا تھا۔
اثاثے کھربوں روپے کے ہیں۔ اس کی قیمت 10 ارب روپے لگائی گئی ھے

 

[ghazi52]

 

[Akbar26]

Pakistan International Airlines (PIA) Lockheed L-1049H Super Constellation
seen during maintenance checks at London Heathrow Airport.

 

[AbdulQadir7]

1980 photo of brand new Pakistan International Airlines (PIA) Boeing 747 jumbo jet
welcomed by enthusiastic employees of the airline at Karachi Airport.

 

[AbdulQadir7]

Al-Nahang Group, an overseas Pakistani consortium, has made an impressive Rs 1 trillion
bid for the privatization of Pakistan International Airlines (PIA).

 

[Akbar26]

This 1970s newspaper clipping reflects a pivotal moment in the history of Pakistan International Airlines (PIA), showcasing the airline's rise to prominence during a period of significant expansion.
The article outlines PIA's achievements and its role as a key player in the aviation industry, capturing the national pride associated with its growth.

 

[HaiderAfan]

Pakistan International Airlines (PIA) de Havilland Canada
DHC-6 Twin Otter 300 at Karachi Airport in 1985.