Pakistan offers 51%-100% stake in loss-making PIA for sale as part of IMF-backed reforms.
Pakistan puts up a stake in loss-making national carrier, Pakistan International Airlines (PIA), for sale, ranging from 51% to 100%, as part of IMF-backed reforms. The airline, which has amassed vast arrears, will have expressions of interest accepted until May 3. EY Consulting has been appointed as the financial adviser for the deal. The restructured PIA is being offered to potential investors in its 'debt-lite' new structure for a 51%-plus stake.
April 02, 2024
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