PIA to be handed over to new owners on 25th

The federal government is set to formally hand over PIA to its new owners on May 25, marking the culmination of the national carrier's long-running privatisation process, sources in the Privatisation Commission said on Tuesday.

According to officials, the privatisation of the state-owned airline has entered its final stage, with all major conditions and procedural requirements already completed.

The new owners are expected to assume full operational control of the airline later this month, effectively bringing an end to PIA's decades-long run under government management.

Sources said preparations for the conclusion of PIA's state-run era had been finalised, while the airline's board had also completed its last phase in an official capacity.

Officials said the national carrier's financial position had shown improvement following the restoration of its Europe and UK routes, which had strengthened confidence around the privatisation process.

The new management is also expected to pursue an expansion plan aimed at increasing PIA's fleet size.