PIA consortium appoints new CFO

A private consortium which now owns major stakes in PIA has appointed the airline's new chief financial officer (CFO), Mushtaq Rana, as part of its broader restructuring plans ahead of a potential takeover, sources revealed on Friday.

Rana will formally assume charge on June 8 and is expected to oversee the airline's financial affairs following the consortium's takeover. Rana previously served with a Saudi airline, bringing international experience to the role.

Sources disclosed that the consortium is planning a major administrative overhaul within PIA. Key positions are expected to be filled with highly qualified professionals.