Minister of Privateization Abdul Aleem Khan, on Thursday announced that the privatization of the loss -making national carrier, Pakistan International Airlines (PIA), would be completed within three months.

“Federal Minister also mentioned that in order to make Pia’s privatization more attractive, a new roadmap is being delivered and it is expected that all phases of this privatization process will be completed within the next three months,” Khan’s office said in a statement.

The Minister stated that the privatization process with the introduction of Pia aircraft to Europe has become more appealing to investors.

Khan expressed confidence that there would be a stronger interest from potential investors this time. “The national airline is ready to become profitable again because of the recent reforms,” ​​the statement added.

In the last bid process for Pia’s privatization held in October 2024, only a bid, $ 36 million for a 60 percent share, was well under the government’s minimum price of RS85 billion.

Although six groups were pre-qualified for the bidding, the only participant Blue World City, a real estate development company.

Potential bidders have raised concerns about political continuity, honored contracts, inconsistent government communication, unattractive terms, tax taxes and Pia’s heritage problems.

The airline’s cumulative losses are estimated to be close to $ 3 billion, while its total asset assessment is approx. $ 572 million.

Khan also revealed that Pia’s aircraft to Britain would begin in three months, which further increased the airline’s prospects. Pia resumed the operations in Europe last year after the European Union Aviation Safety Agency (EASA) lifted its ban on 2020 against the airline.

The prohibition had been introduced to concerns about the security of the pilots’ licenses and the ability of Pakistan’s Civil Aviation Authority (PCAA) to meet international aviation standards.

After a deadly plane crash in 2020, killing 97 people, both EASA and UK authorities suspended Pia’s operational permits.

“The Minister of Privatization emphasized that there is an expectation of better expression of interest from investors this time, as the introduction of Pia aircraft to Europe has made the privatization environment even more lucrative and favorable,” the statement states. “Because of the recent measures, the national airline is ready to become profitable again.”