Mubasher TV
Contact Us Advertising   العربية

GCC firms mull Pakistan Airlines acquisition

GCC firms mull Pakistan Airlines acquisition
Afirst-hand source said Islamabad plans to split the financially-troubled Pakistan Airlines into two companies and sell a major stake in the company’s main activities to a global airline over the next 18 months.
He added that financial advisors are currently holding talks with some airlines about this acquisition.
The financially-troubled Pakistan Airlines has nearly 17000 employees and operates 36 aircraft, of which 10 are broken down due to lack of spare parts.
The source indicated that no decision has been taken regarding the buyer, but Emirates Airline, Etihad Airline and Qatar Airways – the leading airlines in the GCC region – are among the potential buyers.
This deal, through which the company plans to raise $4 billion, is expected to be the most difficult sale, he noted.