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Saudis want Pakistan Airlines

Negotiations underway between the two governments to privatize the flag carrier

The Government of Pakistan, led by Prime Minister Shehbaz Sharif, has started negotiations for the privatization of national carrier Pakistan International Airlines (PIA) with a delegation of state-owned companies from Saudi Arabia, led by Foreign Minister Faisal bin Farhan Al Saud. The objective is to sell a majority share of the airline to Arab shareholders.

This was reported by various Pakistani national media, according to which the Special Investment Facilitation Council, a body controlled by Islamabad's foreign ministry, "invited" Saudi Arabia to collaborate in the privatization of Pakistan International Airlines, airports and other state services", including various companies majority-owned by the state.

The Pakistani government wants to privatize its state-owned airline due to heavy economic losses. At the beginning of April, the Sharif executive formally asked for expressions of interest to acquire 51-100% of the airline's share capital, therefore ceding control of the management of the national carrier. Interested parties have until May 3 to submit their proposals.

On the same topic, see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency