Despite recent rains delaying the due diligence process, Pakistan’s Privatization Commission has decided to hold bidding for the privatization of Pakistan International Airlines (PIA) in early November.
Four pre-qualified bidders have been given access to the airline’s virtual data room and are presently examining financial and operational data, according to officials. Investors will be permitted to submit additional questions following the completion of due diligence.
The sale of the national carrier’s shares ranges from 51% to 100%. According to officials, a group of cement producers, Fauji Fertilizer, and Airblue have already finished preliminary inspections, while a consortium headed by Arif Habib has experienced difficulties in its study.
