Friday, April 18 2025

Govt to seek fresh bids for PIA next week: privatisation ministry
The government will publish an advertisement next week to attract new bidders for the privatisation of Pakistan International Airlines (PIA), the privatisation ministry said in a statement on Wednesday. The government’s failed first attempt to privatise PIA cost the national exchequer $4.3 million, the National Assembly Standing Committee on Privatisation was informed on February 26. Last month, Privatisation and Investment Minister Abdul Aleem Khan said that the government would complete all the steps to privatise PIA by May, while the pri­vatisation commission approved a transaction structure for the second attempt to privatise the national carrier based on a divestment of 51 to 100 per cent of its shares of capital.
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Related symbols: PIAHCLA (news stock)

Fresh expressions of interest for PIA
The Pakistani government will seek expressions of interest (EoIs) next week for the sale of Pakistan International Airlines, the privatisation ministry said on Thursday, days after it reported its first annual profit in over two decades. Pakistan has been seeking to sell a 51-100 per cent stake in the debt-ridden carrier, to raise funds and reform cash-draining, state-owned enterprises as envisaged under a $7 billion International Monetary Fund programme. Its failed attempt to privatise Pakistan International Airlines last year received a single offer, well below the asking price of more than $300 million. The privatisation commission board has approved seeking new bids, the ministry said in a statement.
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Related symbols: PIAHCLA (news stock)

Wednesday, April 09 2025

PIA ‘achieves net profit’ after 21 years
The bo­­ard of directors of Pakis­tan International Airlines (PIA) has approved its fin­ancial results for 2024, which show the airline achieving a net profit after around 21 years, a PIA spokesperson said on Tuesday. According to the results for FY2024, PIA earned an operational profit of Rs3.9 billion and a net profit of Rs2.26bn. The airline’s operating margin was more than 12pc, which is on a par with the performance of any of the best airlines in the world, the spokesperson said. The airline last achie­v­­ed profit in the year 2003. Recently, the struggling airline had undergone comprehensive reforms and restructuring.
Related news categories: business economic-indicators psx stock-exchanges transport
Related symbols: PIAHCLA (news stock)