The process of privatising Pakistan International Airlines has entered its final phase, with finance and human resource experts from all four shortlisted consortia completing a detailed review of the airline’s records.
According to information that emerged on Wednesday, all four consortia are scheduled to submit their bids on December 23. Senior representatives from the consortiums met with the PIA chief executive officer and top management in Karachi, where they were given comprehensive operational and financial data.
Officials briefed the bidders that PIA currently operates a fleet of 34 aircraft and serves more than 90 domestic and international routes. The airline’s total workforce stands at around 7,000 employees. Consortiums were also provided with details of PIA’s daily revenue generated from both local and international operations.
In addition, complete information was shared regarding pilots, aircraft engineers, cabin crew, ground staff, administrative officers, and retired employees. Sources clarified that pension liabilities of retired PIA employees will not be transferred to the consortium that eventually acquires the airline.
As part of the privatisation framework, authorities have decided that the bidding process will be conducted transparently, with bids to be opened and broadcast live in the media to ensure public confidence and accountability.
