Seven international investors express interest in PIA

March 27, 2024 (MLN): Seven international investors including Germany, France, Netherlands, Qatar, UAE, Malaysia, and Turkiye have shown their interest in Pakistan International Airlines (PSX: PIAA), said a press release issued on Tuesday.

Moreover, local groups are also interested in the transaction, the aviation ministry said.

Federal Minister for Defence, Defence Production, and Aviation Khawaja Muhammed Asif presided over a meeting on outsourcing of airports and privatization of PIA yesterday.

The minister aviation has directed to convene an online meeting with the Pakistani Ambassadors in these countries, provide them country specific brief prepared by aviation and ask them to proactively engage with interested groups.

He also advised to connect the local investors with international investors to enhance the awareness of the local groups so that they may participate in the bidding process by developing their consortium.

The secretary privatization commission Usman Akhtar Bajwa updated the minister about the marketing plan and preliminary engagement with international investors including UAE, Qatar, Saudi Arabia, and Turkiye on privatization transaction of PIACL.

Federal minister directed to visit these countries to have active engagement with potential investors and bring the most interested groups in Pakistan.

The minister also assured the government to government  level engagements for speeding up both the transactions.

PIA's stock price has seen a bout of volatility in recent sessions, its shares are up 7.5% today. Over the past year, the stock has seen a surge of 7.93x, while the year-to-date (YTD) increase stands at 3.87x.

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