ISLAMABAD (PEN) : Turkish Airlines (THY) has firmly refuted media reports suggesting that it is in negotiations to acquire Pakistan International Airlines (PIA).
These claims, which implied that THY had shown interest in purchasing PIA, prompted a swift denial from the airline. Yahya Üstün, THY’s Senior Vice President of Media Relations, categorically stated that there are no ongoing talks or initiatives regarding the acquisition of PIA.
This denial comes after Pakistan’s Minister of State for Finance, Ali Pervaiz Malik, indicated that discussions between the Pakistani government and THY about selling PIA were in progress. Malik had also suggested that the potential deal could be linked to Pakistan’s efforts to complete its IMF program.
In light of these developments, THY has made it clear that the reports are unfounded and dismissed any speculation regarding a potential acquisition.
Additionally, the National Assembly’s Standing Committee on Privatization announced that the bidding process for Pakistan International Airlines Company (PIAC) will be streamed live in the media on October 1, 2024, following approval from the federal cabinet. The Secretary of the Ministry of Privatization assured the committee that the rights of PIAC employees would be safeguarded throughout the privatization process.
To better understand the challenges facing PIAC, the committee has established a sub-committee tasked with investigating the reasons behind the airline’s decline. This sub-committee will be led by Ms. Sehar Kamran, with Ms. Sofia Saeed Shah and Ms. Saba Sadiq serving as members.
As these developments unfold, the focus remains on finding a viable path forward for PIA while ensuring the protection of its dedicated employees.