Bids Invited for PIA Privatisation

[Amaad Lone]

Useless government, useless airline.

No one will buy this airline unless they get the FAA and EASA clearance to fly to UK, Europe and the US.

[Abbas Ali]

Express News

Revised dates for PIA Privatization.

* October 25 - draft agreement to be signed by pre-qualified bidders.

* October 28 - earnest money to be deposited by pre-qualified bidders.

* October 31 - bidding day.

Abbas

[London Flyer]

Turkish formally distanced itself from this bidding process. Perhaps it is another Turkish airline like a Pegasus or SunExpress that is working with YB?

Turkish would have been the ideal consortium partner though, in my opinion.

I recall that Serene had Chinese financiers backing it when they first started. Was that misinformation or is it true?

[Abbas Ali]

The Turkish airline is Pegasus Airlines with consortium led by YB Holdings (consortium members include Pioneer Cement, Artistic Milliners, ANS Capital, Metro Ventures)

International Monetary Fund (IMF) unhappy over delay in PIA privatization process.

IMF had received assurance on PIA privatization from the Government of Pakistan that has been receiving financial bailout packages from IMF.

https://e.jang.com.pk/detail/764766%22

[Amaad Lone]

01 777-300ER
01 777-200LR
03 777-200ER
10 A320-214
01 ATR42-500

16 AIRCRAFT

Operational fleet of PIA end of September 2024.

1 billion dollars worth of loans on its balance sheet.

Flights to Europe, UK, USA and Australia banned.

Wonder what this airline is worth?

[Abbas Ali]

PIA bidders resist employee retention, seek tax clearance and aircraft guarantees. PIA bidding postponed to October 31 due to new terms/conditions set by pre-qualified bidders.

https://tribune.com.pk/story/2500522/ne ... ng-forward

[London Flyer]

Honestly the government should agree to demands regarding employee retention. What is the issue regarding aircraft guarantees?

While I don’t agree with the overall tax holiday suggestion m, I do think PCAA could be much more tactical by using tax incentives as a means to make certain nationally important routes profitable for airlines operating them.

[Abbas Ali]

The six pre-qualified bidders, initially enticed by a 60 percent stake offer, are now demanding full ownership of PIA.

https://e.thenews.com.pk/detail?id=348765

[raza]

In the end this will be sold to any friend of PML-N and not to an eligble bidder

[Sami Warsi]

In the end this will be sold to any friend of PML-N and not to an eligble bidder

100% agreed

[Karachi Aviator]

Apparently the bidding process might be further delayed as bidders demand 100% ownership of PIA but the government is hesitant:

https://www.google.com/amp/s/tribune.co ... ip%3famp=1

[Abbas Ali]

Bidding process for PIA privatization on October 30.

https://tribune.com.pk/story/2504841/pi ... ter-delays

Abbas

[Abbas Ali]

Pakistan hoping to finalize PIA privatization in November, country's Finance Minister Muhammad Aurangzeb informed AFP in Washington.

https://www.brecorder.com/news/40328750 ... -aurangzeb

Abbas

[Karachi Aviator]

Pakistan hoping to finalize PIA privatization in November, country's Finance Minister Muhammad Aurangzeb informed AFP in Washington.

https://www.brecorder.com/news/40328750 ... -aurangzeb

Abbas

They're still hopeful, not sure or confident

[mohammad]

Pakistan Gets One Bid From Shortlist for Airline Stake Sale

Pakistan received just one bid for a stake in the national carrier as five other consortiums stayed away from one of the country’s major privatization attempts.

The bidder deposited “earnest money” for the transaction with the nation’s Privatisation Commission by Tuesday’s deadline, Ahsan Ishaq, spokesman for the Privatisation Ministry, said by phone, without disclosing the name of the interested party.

A total of six groups were shortlisted to bid for shares in loss-making Pakistan International Airlines including private airline Airblue Ltd., Arif Habib Corporation Ltd., Air Arabia’s Fly Jinnah, Y.B. Holdings Pvt., Pak Ethanol Pvt. and real estate consortium Blue World City.

https://www.bloomberg.com/news/articles ... e-americas