Emirates denies any interest in buying PIA stake

According to a Gulf daily, Emirates has denied claims made by the Pakistan’s newspaper of its interest in buying a stake Pakistan’s International Airline (PIA).

After the news surfaced from the Pakistani media, Gulf Media picked up the story after which the spokesperson for the company denied saying “Emirates has no plans to buy or acquire any airline”.

Pakistan’s International Airline, has been heaved under a myriad of problems off late marred by inefficiency. The PIA once helped the budding Emirates Airline when in 1985, it wet-leased two aircrafts to Asia’s Largest Airline company.

Recently, Daniyal Aziz a Minister in the current ruling regime of Pakistan announced that the National Carrier will be sold before the incumbent government ends her tenure. The PML (N) Government has long been trying to sell some stake in the carrier as it incurs losses more than $30 million each month.