Islamabad, Pakistan, Dec 23, 2025 (AFP) - Pakistani firm wins auction for state airline PIA

NAMPA / AFP
2025-12-23
A Pakistani firm won an auction Tuesday with a $482 million bid for a majority stake in the embattled national carrier PIA, a deal seen as a litmus test of the government's pledge to sell off loss-making state companies. Pakistan International Airlines (PIA), long accused by critics of being bloated and poorly run, has been burning through cash as the government struggles with a balance of payments crisis. Three Pakistani firms competed in the au......
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