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Pakistani consortium acquires 75 percent stake in PIA in major privatization move
ISLAMABAD: Pakistan on Tuesday concluded the long-awaited privatization of its loss-making national flag carrier, the Pakistan International Airlines (PIA), with Arif Habib Group emerging as the winning bidder in a process the government says will end decades of state-funded bailouts and help revive the loss-making airline. The consortium, led by Arif Habib Group, secured a 75 percent stake in PIA for Rs135 billion ($482 million) after several rounds of bidding, valuing the airline at Rs180 billion ($643 million).
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arabnews.com
Pakistan set to broadcast tomorrow auction of loss-making national airline
ISLAMABAD: Pakistan is set to broadcast live the auction of its loss-making national airline tomorrow, Pakistani state media reported on Monday, a move authorities say is aimed at…
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Pakistan to open today televised bidding for privatization of loss-making flag carrier PIA
ISLAMABAD: Pakistan is set to hold a live broadcast bidding process today, Tuesday, for the privatization of the Pakistan International Airlines (PIA), officials said, with three…
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Pakistani consortium acquires 75 percent stake in PIA in major privatization move
ISLAMABAD: Pakistan on Tuesday concluded the long-awaited privatization of its loss-making national flag carrier, the Pakistan International Airlines (PIA), with Arif Habib Group…
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Flag carrier PIA to be run by new owners from April, says Pakistan official
KARACHI: Pakistan International Airlines (PIA) is expected to be run by a new owner from April next year and receive fresh capital under a deal to privatize the flag carrier, the…
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aljazeera.com
Why is the sale of Pakistan’s national airline stirring a political storm?
PIA has been sold for $482m to a consortium led by finance mogul Arif Habib. But the military gets a piece, too.