PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

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CoyBoy
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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by CoyBoy »

WOW! I didnt care what happened to Swissair and how things got replaced and I was in my 20s back then and you were 5.

Chairman lying despite the above post mentioned 49% to be offered on sale, tauba hay.
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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by Pakistan-1 »

^I was just 3 back then but I like to do case studies on former airlines
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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by uzairali »

ammad wrote:Solid three years have been passed and so far nothing real happen for PIA-1 and for PIA2.

Also, 180 Billion is whole lot of a money for government to bail out PIA.
The thing is the interest on 180 billion. Because pia is I'm shambles the loans it take come with high interest due to high risk of default.

As such a lot of its revenue is just used to pay back loans. From recent reports it looks like pia pays $132 million annual payment for loan or other finance costs.
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Abbas Ali
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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by Abbas Ali »

PIA Business Segments - Financial Advisers Preparing Restructuring Plan

ISLAMABAD:
Financial Advisers are preparing a restructuring/implementation plan in consultation with Pakistan International Airlines Corporation Limited (PIACL), which would be presented to the Privatisation Commission (PC) Board and Cabinet Committee on Privatisation (CCOP) for requisite approvals next month.

This was revealed by PIA officials while briefing the Senate Special Committee on the performance of PIA, which met here on Monday.

The committee was informed that on September 29, 2016, a meeting was held among the Privatisation Commission, Aviation Division, PIACL, Civil Aviation Authority (CAA), Securities & Exchange Commission of Pakistan (SECP) and Financial Advisers, wherein it was recommended that the PIACL would update the detailed assessment carried out on its various business segments with the assistance from the financial advisers. Further, the meeting underscored the need for formulating a detailed restructuring/implementation plan, focusing on the proposed segregation of core and non-core business segments of PIACL.

Presently, the financial advisers are preparing a detailed restructuring/implementation plan in consultation with PIACL. The said plan will be presented to the PC Board and CCOP for requisite approvals, the officials said.

Source: Business Recorder (December 6, 2016)
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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by Abbas Ali »

Many tweaks in privatisation bill ‘handcuffed PIA’

January 11, 201

ISLAMABAD:
The bill passed by the joint session of Parliament paving way for the privatisation of the Pakistan International Airlines has worked against the national flag carrier making it difficult to function smoothly, the PIA acting chief Irfan Elahi told a Senate panel.

Briefing the Senate’s standing committee on Cabinet Secretariat about the reasons behind the national flag carrier’s poor performance and mismanagement, the PIA acting chief said that the PIA (conversion) Bill, 2016 would have been better had it been adopted in its original form.

The bill was passed in a joint session of parliament in April after a thorough discussion in a joint parliamentary committee.

Sharing the reason behind it, Elahi maintained that since 51 per cent shares were still owned by PIA and protection of minority shareholders were the two important provisions of the bill it had ‘virtually handcuffed’ the national flag carrier.

He later told The Express Tribune that after “the so-called conversion it has become more difficult to function as our hands are tied more than ever before.”

Source: tribune.com.pk
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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by Abbas Ali »

PIA to be privatised by June

AMIN AHMED

ISLAMABAD:
The government will complete transactions of PIA by June this year, Chairman of Privatisation Commission, Muhammad Zubair said on Wednesday.

Mr. Zubair said a committee has been formed, led by Planning and Development Minister Ahsan Iqbal, to prepare a business plan for splitting the national carrier into two companies. The entire process will be completed by June, he added.

The business plan will deal with improving the financial and operational performance of PIACL on a sustainable basis, in coordination with the PIA management.

The proposal will be finalised next month and submitted to the CCoP.

The first meeting for the purpose will be held on Thursday.

Source: DAWN
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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by Abbas Ali »

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Plan to separate PIA core and non-core businesses will be completed by the end of February 2017, according to Pakistan's finance ministry statement on Geo News.

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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by ammad »

I think this is highly unlikely as Government can't take such decision due to political pressure in her last six month of Government.
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Re: PIA Revival Plan - 'PIA Two' to be Formed on Temporary Basis

Post by Abdulrafeysiddiqui »

But we can expect anything from Mr. Nawaz Sharif!
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