The government has extended the deadline for submitting Expressions of Interest (EoI) to acquire Pakistan International Airlines Corporation Limited (PIACL) until June 19, 2025, pushing back the original June 3 cutoff. All other terms and conditions for the privatisation process remain unchanged, according to an official announcement.

The revised deadline gives potential investors until 4:00 PM on Thursday, June 19, to submit their EoIs and Statements of Qualification for the divestment of PIACL, Pakistan’s national flag carrier. The government, through PIA Holding Company Limited, currently owns about 96% of the airline’s issued capital.

PIA, a full-service airline, operates 268 flights per week and served around 4 million passengers across 30 destinations in the last financial year. The government is seeking to sell a 51-100% stake in the debt-laden carrier as part of broader efforts to reform loss-making state-owned enterprises and raise funds under a $7 billion International Monetary Fund (IMF) programme.

Last year, the government’s first attempt to privatise PIA faltered after receiving only a single offer, which fell far short of the minimum asking price of over $300 million. The Blue World City consortium declined to meet the Privatisation Commission’s minimum expectation of Rs85.03 billion, sticking to its original bid of Rs10 billion for a 60% stake, which led to the collapse of the bidding process.