Al-Nahang Group, a consortium led by overseas Pakistanis, has put forward a substantial offer of Rs 1 trillion to acquire Pakistan International Airlines (PIA) as part of the airline’s privatization process. This ambitious proposal includes a pledge to pay off PIA’s existing debt of Rs 250 billion, providing a much-needed financial boost to the struggling airline.
In addition to taking on PIA’s debt, Al-Nahang has assured that there will be no layoffs among PIA employees. As a further incentive, the group has committed to doubling employees’ salaries over the next two and a half years, aiming to improve staff morale and engagement.
Beyond financial commitments, Al-Nahang plans to modernize and expand PIA’s fleet, enhancing the airline’s capabilities to compete in the international market. Another key part of the proposal is to establish PIA as a significant engineering and maintenance center for other airlines, which could help transform it into a valuable regional hub.
The offer comes amid rising interest from other local and international players in PIA, including a recent bid from the Khyber Pakhtunkhwa (KP) government. Al-Nahang’s proposal, however, stands out due to its scale and focus on employee welfare, which could garner strong support.
This bid from Al-Nahang Group represents a significant opportunity for PIA, potentially opening the door to a new era of growth and development for the national airline. If accepted, the deal could place PIA on a path to becoming a more competitive and sustainable airline in the region.
