Second Attempt at PIA Privatization: Final Preparations Underway

Karachi: The government’s second attempt to privatize Pakistan International Airlines (PIA) is entering its final stages, with the privatization commission formally inviting interested companies to bid tomorrow, December 23.

PIA’s total assets are valued between Rs 150 billion and Rs 190 billion, including a fleet of 34 aircraft operating over 90 domestic and international routes. The national carrier currently operates around 70 flights daily, comprising 45 international and 25 domestic services. Presently, 18 international and 13 domestic routes are active, with operational aircraft including Boeing 777, Airbus, and ATR models. Out of 34 planes, only 18 are operational, while 16 remain grounded.

The airline employs approximately 9,500 staff, including 6,500 permanent employees, with the rest on contracts or daily wages. PIA’s hotels in the U.S. and France have been separated into an independent company. The airline earns daily revenues between Rs 600 million and Rs 800 million, generating Rs 112 billion in revenue during the first half of 2025.

Interested companies have assured the privatization commission that they will not terminate employees within one year of acquisition, after previous bidders rejected the commission’s three-year non-termination condition. PIA is also planning to resume flights to London and Birmingham soon. Sources indicate that the government intends to sell 51% to 100% of PIA’s shares.