PIA privatization to conclude by end of Oct

By MG News | Category Equity | September 10, 2024 at 10:40 AM GMT+05:00

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September 10, 2024 (MLN): The privatization process of the Pakistan International Airlines (PSX: PIA) would be completed by the end of October 2024, Federal minister for defence Khawaja Asif informed the national assembly on Monday

Responding to a calling attention notice regarding the prolonged closure of Hyderabad airport for commercial flights, he said that reopening PIA flights on this route is not financially feasible, as APP reported.

He explained that PIA currently faces a debt burden of Rs800 billion, and routes that are not financially viable cannot be operated.

Responding to a question, he said that the government has no objection if a private airline wanted to operate from Hyderabad airport.

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