Pakistan International Airlines (Pakistan International Airlines) is moving forward with its privatization plan, revealing that 11 properties, both domestic and international, are included in the deal. Officials said these assets are part of a broader restructuring strategy aimed at reviving the airline’s financial health.
Out of the 11 properties, seven are located abroad, with a combined value of approximately Rs12 billion. The international portfolio includes PIA-owned buildings in New York, India, Amsterdam, and Uzbekistan, alongside two major hotels that enhance the airline’s overseas holdings.
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PIA’s Indian assets include properties in New Delhi and Mumbai, valued at around Rs121.9 million and Rs112.5 million respectively. Meanwhile, the New York property is estimated at $1.935 million, and the three buildings in Amsterdam carry a combined value of 3.435 million euros.
In Uzbekistan, the airline owns a property valued at roughly 4 billion local soms, highlighting PIA’s extensive international investment strategy. The overseas holdings, including the Roosevelt Hotel in New York and the Scribe Hotel in Paris, are considered key revenue-generating assets for the airline.
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Domestically, four properties are included in the privatization deal, with a total estimated worth of Rs11.40 billion. The Peshawar Sales Office alone is valued at Rs5.56 billion, while other notable properties include buildings in Rawalpindi, Islamabad, and Quetta.
Officials emphasized that selling these properties under the privatization plan is aimed at reducing financial pressure on PIA and improving operational efficiency. They added that both domestic and international assets are strategically important for prospective investors considering the airline’s portfolio.