Rejecting earlier reports about a potential acquisition of Pakistan International Airlines (PIA), the Punjab government has announced plans to launch its airline, “Punjab Air.” This decision comes directly from Pakistan Muslim League-Nawaz (PML-N) President and former Prime Minister Nawaz Sharif.
Senior Provincial Minister Marriyum Aurangzeb clarified that the government has no intention of purchasing PIA. She urged the public to disregard any misinformation regarding the government’s interest in the national carrier.
Sources within the government indicate that “Punjab Air” will be a joint venture with private investors, with feasibility studies set to commence shortly. While the exact details of the government’s stake in the airline are still under discussion, it is likely to hold a significant share.
Earlier, Nawaz Sharif had suggested that the Punjab government either acquire PIA or establish a new airline. However, the recent failed privatization attempt of PIA, where Blue World City’s bid of Rs10 billion fell short of the government’s minimum price of Rs85 billion, has paved the way for the new initiative.