Bidding for Pakistan International Airlines Delayed to October 31

The auction of Pakistan's national airline, Pakistan International Airlines (PIA), has been postponed until October 31 at the request of bidders requiring more time. Six parties are pre-qualified for bidding, including Fly Jinnah and Airblue Ltd. The sale is part of IMF-recommended reforms.

The auction of Pakistan's national airline, Pakistan International Airlines (PIA), has been pushed to October 31, two officials from the privatisation ministry stated on Tuesday. An earlier announcement had indicated a Tuesday auction date.

Officials revealed that the extension was requested by bidders to allow more preparation time. They spoke under the condition of anonymity as they were not authorized to release this information ahead of the official delay announcement.

A spokesman for the privatisation ministry did not respond to requests for comments. Six parties, including Fly Jinnah, Airblue Ltd, and two consortiums led by Pak Ethanol (Pvt) Ltd and YB Holdings (Pvt) Ltd, are pre-qualified for the bidding. The government aims to sell 51-100% of the loss-making airline, following recommendations from the International Monetary Fund (IMF).

(With inputs from agencies.)