Expressions of Interest (EoIs) for the acquisition of up to 100 percent equity in Pakistan International Airlines Corporation Limited (PIACL) are due today (Thursday), with several prominent business entities signaling their intention to participate in the privatization process of the national flag carrier.
PIACL, a public limited company and Pakistan’s national airline, is majority-owned by the Government of Pakistan through the PIA Holding Company Limited, which holds approximately 96 percent of its issued capital.
According to Bloomberg, both Aslam Chaudhary, Managing Director of Airblue Ltd., and Akram Wali Muhammad, Managing Director of Gerry’s Group, have confirmed their intent to bid for a controlling stake ranging from 51 to 100 percent in PIACL.
In addition, leading business figures Muhammad Ali Tabba and Arif Habib have formed separate consortia to compete for the acquisition. Arif Habib disclosed that his consortium includes Fatima Fertilizer Ltd., Lake City, and The City School.
The Yunus Brothers Group, one of Pakistan’s major business conglomerates, has also entered the bidding through a consortium comprising Mega Group, Kohat Cement Company, and Metro Group, as reported by Bloomberg.
Separately, Fauji Fertilizer Company Limited (FFC), one of the country’s largest fertilizer producers, has recently submitted a formal expression of interest in acquiring a stake in the airline.
The federal government previously extended the deadline for submission of EoIs from June 3 to June 19, 2025. All original terms and conditions of the transaction remain unchanged.
