PIA Expressions of Interest: Deadline Extended – Pakistan
Pakistan has extended the deadline for expressions of interest in the privatization of Pakistan International Airlines (PIA). The new deadline for bids is June 13, as the government pushes forward with restructuring the struggling flag carrier. This extension follows previous unsuccessful privatization attempts and important financial losses for PIA. The government views PIA privatization as a critical step in its economic reform agenda, hoping to alleviate the airline’s ample debt, which has required past government bailouts. Abdul Aleem Khan, the Privatization and Investment Minister, had previously targeted May for the completion of all privatization steps. News Directory 3 is tracking all the developments. Discover what’s next as the government evaluates the expressions of interest and prepares for the upcoming bidding process.
Pakistan Extends Deadline for PIA Privatization Bids
Updated May 28, 2025
The Pakistani government has extended the deadline for parties interested in purchasing Pakistan International Airlines (PIA), the country’s flag carrier. The new deadline for submitting expressions of interest is June 13, according to a statement released Tuesday by the privatization ministry. This move comes as Pakistan seeks to restructure the struggling airline through privatization.
PIA’s privatization is a key component of Pakistan’s broader economic reform agenda. Previous attempts to privatize PIA have faced challenges. In February, the National Assembly Standing Commitee on Privatization learned that a prior failed privatization attempt cost the government $4.3 million.
Despite past setbacks,the government remains committed to the privatization of PIA. Abdul Aleem Khan, the Privatization and Investment Minister, stated in March that all steps to privatize PIA would be completed by May. The privatization commission has approved a transaction structure for this second attempt,involving the divestment of 51% to 100% of the airline’s shares.
The initial deadline for expressions of interest was June 3,with bidding anticipated between October and December.The ministry’s recent statement clarifies that the submission deadline is now 4 p.m. on June 13.
In May, a PIA spokesperson announced that the airline’s board of directors had approved the 2024 financial results, revealing a net profit after 21 years.The results showed an operational profit of 3.9 billion rupees and a net profit of 2.26 billion rupees. The airline’s operating margin exceeded 12%,aligning with top-performing airlines globally,according to the spokesperson.
PIA’s financial difficulties began in 2011, leading to reliance on government subsidies.By 2016, the airline’s debt reached $3 billion, climbing to $3.3 billion by the end of 2018, necessitating government bailouts to maintain operations. The Pakistan International Airlines (PIA) privatization is seen as a way to alleviate this debt burden.
What’s next
The government will evaluate the expressions of interest received by the June 13 deadline.The subsequent bidding process, expected between October and December, will determine the future ownership and operational structure of Pakistan International Airlines.