ISLAMABAD: Pakistan has postponed the final auction for state-owned Pakistan International Airlines (PIA) by two months, pushing the deadline to the end of September.
This delay comes after potential bidders requested additional information to evaluate the airline properly. Key issues include the airline’s latest audited financial statements, clarification on its banned flights to Europe, and details on aircraft lease agreements.
The privatization ministry has not commented on the delay, which means Pakistan will not meet its initial goal of announcing the deal on Independence Day, August 14.
The government had earlier aimed to finalize the auction by then but will now announce the final bid date within 10 days.
In June, Pakistan shortlisted six groups to bid for PIA. Notable bidders include a consortium led by the Yunus Brothers Group and another spearheaded by businessman Arif Habib. Pak Ethanol Pvt.’s consortium features local airline Serene Air, Liberty Power, and is advised by House of Finance. Additionally, international participants in the consortium include Switzerland’s Swiss Aviation Group AG, Austria’s Airport Competence GmbH, and Australia’s Pearl Asset Management, alongside Pakistan’s Serene Air and Air Sial Ltd.
