Air Vice Marshal (AVM) Muhammad Amir Hayat is no longer serving as the Chief Executive Officer (CEO) of PIA Holding Company Limited (PIAHCL), effective December 9, 2024. The development was announced in a notice issued by the company to the Pakistan Stock Exchange (PSX) on Monday.
The notice stated, “We have to inform you that upon completion of deputation tenure from Pakistan Air Force to Pakistan International Airlines Corporation Limited (PIACL)/PIA Holding Company Limited (PIAHCL), AVM Muhammad Amir Hayat has ceased to be the Chief Executive Officer of PIAHCL w.e.f. December 09, 2024.”
PIAHCL, a public limited company majority-owned by the Government of Pakistan, was established to take over specified assets, liabilities, and subsidiaries of Pakistan International Airlines Corporation Limited (PIACL). This includes certain business operations, properties, rights, and obligations of the national carrier.
The departure of AVM Muhammad Amir Hayat comes shortly after the Board of Directors of PIACL appointed Khurram Mushtaq, a senior executive within the company, as the acting CEO of Pakistan International Airlines (PIA). Mushtaq’s appointment is seen as a transitional step as the airline prepares for significant developments, including the resumption of flights to Europe following the lifting of a long-standing ban.
The leadership change marks a critical moment for PIAHCL as it navigates efforts to stabilize operations and improve its financial and operational performance.
