17 hours Ago By Vaishali Shastri
Pakistan International Airlines (PIA), the country’s national aviation company, was until now a government owned company like Air India. However, for the past few years PIA has been struggling, due to which the country’s government is making all attempts to sell it but failed due to lack of buyers for it. It has been trying to sell the PIA through various methods and as it exhausted it options, the Pakistan government is exploring alternative ways.
Pakistan makes new offers According to a report by Economic Times, as it has failed to lure buyers, the Pakistani government has now decided to offer 100% stake in Pakistan International Airlines (PIA) to potential buyers. Before this deal, the government of Pakistan was not willing to let go of the complete stake, but after the deal, the buyer would be able to claim a complete control over PIA. The government has put up the deadline for the process of bidding to be June 3, 2025, and the auction is most likely to take place between October and December.
The government has tried to sell International Airlines twice in the past few years but failed in all its attempts. It made its first attempt to sell the airlines in October 2024 and because it received a single bid of USD 36 million, which was significantly lower than the government's reserved price of around USD 305 million, so, the government could not sell it. Other bidders hesitated to buy PIA due to its historic debts and tax liabilities, which reduced their interest.
Following the deadly terrorist attack in Jammu and Kashmir's Pahalgam, Pakistan announced airspace restrictions for all Indian airlines. Several airlines, including SpiceJet, Air India, and IndiGo, have issued travel advisories for their passengers. Air India shared an important update on X, citing "unforseen Pakistan airspace closure" for Indian airlines.
This comes after India announced measures against Pakistan in response to the attack, which resulted in the deaths of 25 Indians and one Nepali citizen..
