Pakistan International Airlines (PIA) is exploring options for its privatisation. Turkish low-cost airline Pegasus Airlines in collaboration with the Lucky Group is one of those bidders seeking to revitalise the Pakistani carrier.
In collaboration with Lucky Group’s YB Holdings, Pegasus is among six pre-qualified companies bidding for PIA.
According to the Pakistani Finance Ministry, the chair of Pegasus, Mehmat Nane, accompanied by Lucky Group CEO Muhammad Ali Tabba, met with the Pakistan federal minister for finance and revenue, Muhammad Aurangzeb, on August 23, 2024.
Nane highlighted how the purchase could elevate both Pakistan and Türkiye’s aviation industry in equal measures.
In a statement from the government of Pakistan, Aurangzeb said he “appreciated the success of Turkish aviation industry” and added that collaboration with Türkiye in the aviation sector was an important part of bilateral relations. He also said Pegasus’ interest in the airline aligned with Pakistan prime minister Shehbaz Sharif’s aim to bolster Pakistan’s aviation industry.
Despite the glowing statement on Pegasus from the government, the Turkish airline remains one of six companies in the bidding for PIA. The other pre-qualified bidders include Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah (a joint venture between Pakistan’s Lakson Group and Air Arabia), and Pak Ethanol.
Pak Ethanol has hired an AirAsia consultant for the bidding process.
Pakistan Airlines seeking privatisation bids
