Pakistan Delays National Airline Bidding to Oct. 31

The privatisation of Pakistan International Airlines (PIA) has been delayed until Oct. 31. Originally scheduled to happen earlier, the bidding was postponed to allow bidders more time to evaluate terms. Six parties, including Fly Jinnah and Airblue Ltd, have pre-qualified for the auction.

The bidding for Pakistan's national airline has been delayed to Oct. 31, according to a spokesman for the privatisation ministry.

A Pakistani parliamentary committee on privatisation had earlier announced that Pakistan International Airlines (PIA) would be auctioned on Tuesday. However, the spokesman confirmed that the new bidding date has been approved by the ministry.

Ministry officials previously informed Reuters that the delay occurred because bidders needed more time to evaluate the terms and conditions for the auction. Six parties, among them Fly Jinnah, Airblue Ltd, and consortia led by Pak Ethanol (Pvt) Ltd and YB Holdings (Pvt) Ltd, have been pre-qualified for the bidding.

Pakistan's government has stated it intends to sell between 51% to 100% of the loss-making airline to meet reform recommendations set by the International Monetary Fund (IMF).

(With inputs from agencies.)