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☆ Ahead of Election, Pakistan Seals Plan to Sell National Airline
▼ + stars: | 2024-02-01 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +8 min

"Our job is 98% done," Privatisation Minister Fawad Hasan Fawad told Reuters when asked about the plan to sell the airline. Details of the privatisation process have not been previously reported. PIA had liabilities of 785 billion Pakistani rupees ($2.81 billion) and accumulated losses of 713 billion rupees as of June last year. Its CEO has said losses in 2023 were likely to be 112 billion rupees. PIA spokesman Abdullah Hafeez Khan said the airline was assisting the privatisation process, extending "full cooperation" to the transaction adviser.

Persons: Asif Shahzad, Fawad Hasan Fawad, Fawad, Ernst & Young, Shamshad Akhtar, Abdullah Hafeez Khan, Nawaz, Nawaz Sharif, Imran Khan, Sharif's, Ishaq Dar, EASA, Brendan Sobie, Gibran Peshimam, Raju Gopalakrishnan Organizations: Pakistan International Airlines, International Monetary Fund, PIA, IMF, Reuters, Caretaker, Ernst &, Ernst, FAST, Pakistan Muslim League, European Union Aviation Safety Agency, Heathrow, Manchester, Birmingham, Kuwaiti Locations: Asif Shahzad ISLAMABAD, Pakistan, Czech, Hungarian, Karachi, Europe, Kuala Lumpur, Toronto, Singapore, East, North America, Paris, New York

☆ Pakistan's interim PM says Saudi Arabia to invest $25 bln over next five years
▼ + stars: | 2023-09-04 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +3 min

There was no immediate response to a Reuters request to the Saudi Arabian government for comment on Kakar's remarks. If confirmed, a series of investments worth $25 billion would be the biggest ever by the kingdom in Pakistan. Pakistan's state owned enterprises have long been an area of concern with bleeding financials adding to financial stress. Recently Pakistan added struggling state-run Pakistan International Airlines to the privatisation list again. Reporting by Gibran Peshimam; Additional reporting by Aziz El Yaakoubi in Riyadh; Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Akhtar Soomro, Anwaar, Haq Kakar, Kakar, Gibran Peshimam, Aziz El Yaakoubi, William Maclean Organizations: REUTERS, Rights, International Monetary Fund, Barrick Gold Corp, Pakistan's, Barrick, Pakistan International Airlines, Thomson Locations: Karachi, Pakistan, Rights ISLAMABAD, Saudi Arabia, Saudi, Saudi Arabian, Riyadh, Balochistan

A Pakistan International Airlines (PIA) passenger plane prepares to take off from the Benazir International airport in Islamabad, Pakistan, February 9, 2016. REUTERS/Faisal Mahmood/File PhotoISLAMABAD, Aug 7 (Reuters) - Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines (PIAa.PSX), the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister Ishaq Dar. The committee "after deliberation decided to include Pakistan International Airlines Co. Ltd in the list of active privatisation projects of the ongoing privatisation programme, following an amendment in the law by the Parliament," a finance ministry statement said. Pakistan hopes to resume PIA flights to Britain in the next three months after services were suspended following a fake pilot scandal.

Persons: Faisal Mahmood, Ishaq Dar, Asif Shahzad, Baranjot Kaur, David Goodman, Mark Potter, Alistair Bell Organizations: Pakistan International Airlines, PIA, Benazir, REUTERS, Finance, Pakistan International Airlines Co . Ltd, PIAInvestment, European Union's Aviation Safety Agency, International Monetary Fund, Pakistan, Baranjot, Thomson Locations: Islamabad, Pakistan, ISLAMABAD, , New York, Britain, Europe, Bengaluru

☆ At least 4 U.S. residents among those killed in Nepal plane crash
▼ + stars: | 2023-01-19 | by ( Chantal Da Silva | Chantal Da Silva Is A Breaking News Editor For Nbc News Digital Based In London. | ) www.nbcnews.com time to read: +2 min

Two Americans and two permanent residents living in the United States were among the 72 people killed after a plane crashed in Nepal over the weekend, the State Department said. Price did not identify or provide any further details on the two U.S. citizens and permanent residents killed in the crash. On Wednesday, the French Embassy in Nepal said France had dispatched a team of aviation experts to assist the Civil Aviation Authority of Nepal at the site of the crash. Sunday's crash was the deadliest Nepal has seen since 1992, when all 167 people on board a Pakistan International Airlines plane were killed when the aircraft struck a hill as it tried to land in Kathmandu. Since 2000, nearly 350 people have died in plane or helicopter crashes in Nepal.

☆ At least 16 killed in Nepal's worst air crash in 30 years
▼ + stars: | 2023-01-15 | by ( ) www.cnbc.com time to read: +1 min

Rescuers and onlookers gather at the site of a plane crash in Pokhara on January 15, 2023. An aircraft with 72 people on board crashed in Nepal on January 15, Yeti Airlines and a local official said. At least 16 people were killed on Sunday when an aircraft crashed in western Nepal's Pokhara, an army spokesman said, in the small Himalayan country's worst crash in more than 30 years. Yeti Airlines has a fleet of six ATR72-500 planes, according to its website. Nepal Prime Minister Pushpa Kamal Dahal has called an emergency cabinet meeting after the plane crash, a government statement said.

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