The Pakistani government, which owns a stake of around 96% in PIA – Pakistan International Airlines (PK, Islamabad International), voted at an extraordinary general meeting held in Karachi on April 20 to transfer the shares to a new holding company. The move is part of a process to shift non-core liabilities and assets off the airline’s balance sheet ahead of its planned privatisation.

According to an April 22 Pakistan Stock Exchange filing, shareholders have approved the “bifurcation/separation of the…

Source: ch aviation
Read more: Shareholders greenlight share transfer at Pakistan's PIA