Shafaqna Pakistan: The federal government has officially transferred the administrative control of Pakistan International Airlines Corporation Limited (PIACL) to the buyer consortium after completing the first financial closing of the privatisation process.
According to sources, the Privatisation Commission successfully completed the first financial closing, paving the way for the formal transfer of the airline’s management to the consortium.
In a statement, the commission said all conditions of the Share Purchase Agreement, signed on January 29, 2026, had been fulfilled within a short period, enabling the official handover of PIACL’s administrative control to the new owners.
The commission said the buyer consortium has so far paid Rs10 billion to the Government of Pakistan and has already invested Rs80 billion in the national carrier.
It added that the consortium will inject an additional Rs45 billion over the next year before the second financial closing. Furthermore, the government will receive another Rs45 billion if the consortium exercises its option to purchase the remaining 25 per cent stake in PIACL.
The Privatisation Commission also revealed that the consortium has already submitted a written expression of interest to acquire the remaining 25 per cent shares.
Source: Dunya News
