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Pakistan Airlines shares cancelled

The move represents a further step in the privatization procedure

The share price of the airline Pakistan International Airlines (PIA) was cancelled. The Pakistan Stock Exchange has arranged this in recent days. This move represents a further step in the privatization procedure of the Pakistani national airline, whose ownership should pass under private control by the summer.

At the end of April, the transfer of 96% of the shares of the national carrier Pakistan International Airlines (PIA) to the PIA Holding Company was approved. This separation made it possible to move the liabilities deriving from long-term financing (2.26 billion dollars) and non-essential assets (89.3 million) into a secondary container, in the hands of the Islamabad government, which collects non-essential assets -core business.

This will allow only the airline (estimated value at 526 million dollars) and the main liabilities (726 million dollars) to be privatized. Therefore, starting from May 27th, only the shares of PIA HoldCo will be listed on the stock exchange: the stock exchange will list these shares at the same price as the Pia shares marked on May 25th.

On the same topic, see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency