PIA set to be handed over to new owners on May 25

ISLAMABAD: Pakistan International Airlines (PIA) is scheduled to be formally transferred to its new owners on May 25, in the Privatisation Commission.

The development marks the final step in the long-running privatisation of the national flag carrier. Officials said the process has now entered its concluding phase, with the main conditions and procedural requirements already completed.

According to officials, the incoming owners are expected to take full operational control of the airline later this month, ending PIA’s decades under government management.

Sources said arrangements for the close of the airline’s state-run period had been completed. They added that the PIA board had also finished its final phase in an official capacity.

Officials said the airline’s financial position had improved after the restoration of its Europe and UK routes, a development that helped strengthen confidence in the privatisation process.

The new management is also expected to move ahead with an expansion plan focused on increasing the size of PIA’s fleet.

Privatisation process reaches final stage

The handover is set to conclude a privatisation effort that has remained under way for an extended period. Officials said all major procedural steps required for the transfer have already been fulfilled.

With the transfer date now set for May 25, the airline is expected to move into a new phase under private ownership. The formal assumption of operational control by the new owners is expected later this month, according to officials familiar with the process.

Officials also linked the improved outlook around the transaction to the resumption of PIA’s Europe and UK routes. They said the restoration of these routes contributed to a stronger financial position for the airline and reinforced confidence surrounding the sale process.

The expected fleet expansion under the new management was also cited as part of the airline’s next phase after the transfer. No further details were provided in the report about the scale or timeline of the planned expansion.

The scheduled handover on May 25 is expected to formally close a chapter in which the national carrier remained under state control for decades.