Pakistan's national carrier stake sale now uncertain after low offer

Quick Summary:

The airline has not made a profit in almost two decades and had to scale back operations in May last year after running short of funds to pay for fuel.

The winning bidder will need to invest $500 million in five years into the loss making carrier, Bajwa said in August.

Blue World, a real estate developer, was one of the six bidders shortlisted by Pakistan authorities and it was the sole group to put in a final bid.

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Article Details

Category: BusinessFinance

Markets: IndiaPakistan

Topics: National airline IMF International Monetary fund Pakistan government Pakistan government Privatisation Special economic or export processing zone Pakistan economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 12:56:22 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 348 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23362245

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