Overseas group Al Nihang bids PKR 100 billion to acquire Pakistan International Airlines

Al-Nihang, a Pakistani group based overseas, has offered PKR 100 billion to acquire Pakistan International Airlines (PIA). The proposal includes paying off PIA's PKR 250 billion debt and increasing employee salaries by 100% over 30 months. This bid follows interest from the Khyber Pakhtunkhwa and Punjab governments in acquiring PIA. Al-Nihang aims to modernize the airline's fleet and establish it as a maintenance hub for other airlines. Previously, PIA struggled with significant debt and had received multiple government bailouts. The privatization process has seen limited participation, with only one bid of PKR 10 billion submitted earlier.