PIA board greenlights privatization, restructuring plan

MG News | March 26, 2024 at 11:55 AM GMT+05:00

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March 26, 2024 (MLN): The Board of Directors of the Pakistan International Airlines Corp (PSX: PIAA) has approved the company’s restructuring and privatization plan.

The Scheme of Arrangement (SOA) for restructuring and privatization was approved during PIA's 83rd meeting held on March 25, 2024.

The Board will file the modalities with the Securities and Exchange Commission of Pakistan.

To note, PIA has witnessed a relentless rally past its record highs amid the government's efforts to restructure and privatize the loss-making airline.

PIA has seen a bout of volatility in recent sessions. The stock price is up 2.35x this month, and a staggering 7.56x in the current fiscal year.

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