Pakistan International Arlines (PIA) : News / Updates

Lets say PIA’s debt is offloaded to the government and the potential investor will start with 0 debt on the balance sheet.

The gross operational efficiency, nepotism, unions, political appointments, will require a massive undertaking.

The investor will just choose to start an airline from scratch.
 
maithil said:
Will be interesting to see how Government gives away PIA and its assets for 250 million dollars and takes over 3 Billion worth debt.. Some how this is being considered as a good deal. IMO this is another future corruption case being prepared against Sharif family, which will be used when required.
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This deal will bring addition 2+ billion debt to GoP. Isn't it best to declare bankruptcy and close down PIA instead?
 
Olympus81 said:
Lets say PIA’s debt is offloaded to the government and the potential investor will start with 0 debt on the balance sheet.

The gross operational efficiency, nepotism, unions, political appointments, will require a massive undertaking.

The investor will just choose to start an airline from scratch.
Click to expand...
Also PIA remains banned from EU, UK, USA. Will be suprising if investors buy before these restrictions are removed.
 

SURVIVAL THROUGH ADVERSITY​


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The airline’s roots can be traced back to pre-partition days and the formation of Orient Airways.
DAVE WELCH VIA AUTHOR
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Parked at London/ Heathrow in 1960 this PIA Lockheed L-1049C Super Constellation, AP-AFS (c/n 146) is undergoing maintenance to one of its Wright R-3350 turbo-compound engines.
TOM SINGFIELD COLLECTION
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The airline started Super Constellation services between Karachi and Dacca in June 1954, and the following February the type operated the carrier’s first truly international service to London.
AIRTEAMIMAGES.COM/ KIERON COLLECTION
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Needing to bridge the capacity gap between its Douglas DC-3s and its Super Constellations, PIA signed a contract for three Vickers Viscounts in May 1958. The first aircraft was delivered in the following January.
VICKERS ARMSTRONG VIA VICKERVISCOUNT.NET
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One of the airline’s flight attendants poses in front of a newly delivered Vickers Viscount.
in Airliner World Magazine
 
BOB O’BRIEN

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The carrier’s ageing Douglas DC-3s were eventually retired in the early 1960s and replaced by a fleet of Fokker F-27 Friendships, which were operated on its expanding domestic network.
PAUL MOREU VIA AUTHOR
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PIA sub-leased Boeing 707-338C freighter, G-BFLE (c/n 19293), from British Midland Airways between May 1978 and April 1979 to operate its Islamabad to Heathrow service.
BOB O’BRIEN
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To boost its long-haul fleet, PIA acquired four Douglas DC-10-30s in 1973 with the first example arriving in March 1974. All four were later sold to Canadian carrier CP Air.
BOB O’BRIEN


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When PIA ordered its first Boeing 747-200s it also signed a contract four Airbus A300 at a cost of $300m. The Airbus proved to be popular with both the airline and its passengers and so another seven were acquired, and two more were operated on lease.
BOB O’BRIEN
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In 1985, five new Boeing 737-300s were introduced to the carrier’s fleet.
 
TOM SINGFIELD
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Pakistan International Airlines retired the last of 15 Boeing 747s on November 7, 2014 after 38 years’ service with the type.
AIRTEAMIMAGES.COM/ CHRIS SHELDON
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A leased fleet of 11 Airbus A320-200s has been established as part of the airline’s shortand medium-haul fleet replacement plans. It is expecting a further two examples to arrive before the end of 2017.
AIRTEAMIMAGES.COM/ FELIX GOTTWALD


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Looking down from the air traffic control tower at London/Heathrow on PIA Boeing 777-200ER, AP-BGL (c/n 33777) as it waits for its next load of passengers.
TOM SINGFIELD

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Following a fatal accident involving one of its Fokker F-27s in July 2006, the PIA board decided to look for a replacement and eventually selected the ATR 42-500 turboprop. Today, it operates a mixed fleet of five 48-seat ATR 42s and five 70-seat ATR 72s.
AIRTEAMIMAGES.COM/JONATHAN ZANINGER
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The airline operated a total of 13 Airbus A310s, with the last three examples being retired from service on January 1, 2017.
AIRTEAMIMAGES.COM/CHRIS GOODWIN
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PIA wet-leased this Airbus A330-300, 4R-ALN (c/n 1604) from SriLankan Airlines for its Premier brand flights.
 
Javha said:
What is the Pak govt smoking? Who would pay 300 Million for PIA?

It is highly indebted and overstaffed. It's primary operations are to a country going through an economic crunch and unstable govt policy regarding foreign exchange.

If Pak govt puts a reserve price of 250-300 Million USD, it's just another way of saying we don't wish to sell the airline.
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If there is no debt, if I am allowed to fire excess staff and if I retain all PIA domestic & international routes I would pay a $1 billion. Unless I am missing some financial obligation.
 
PK784 said:
Also PIA remains banned from EU, UK, USA. Will be suprising if investors buy before these restrictions are removed.
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you answered my question. Without international routes it is a mighty risky purchase
 
ziaulislam said:
What a joke
How the hell are they going to sell it when it has debt of 2-3 billion dollars

Even if high end foreign assets like newyork real estate the market isn't good these days for that

Bottom line is Pia current valuation is negative 1b$ and is brand is actually a liability rather then a asset
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Pakistani government sells the assets to a private buyer and but moves the PIA debt to the public domain
 
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