The Pakistani government will sell a 75% stake in PIA – Pakistan International Airlines (PK, Islamabad International) with the successful buyer having to invest at least USD500 million over three years to recapitalise and revitalise the carrier, according to an August 29 briefing to the Senate Standing Committee on Privatisation.

The secretary of the committee, Usman Akhtar Bajwa, said there would be no more time extensions, with the winning bidder announced and preliminary sale documentation to be signed in October. As…

Source: ch aviation
Read more: Pakistani gov't settles on selling a 75% stake in PIA