.
KARACHI:
The Board of Directors (BoD) of Pakistan International Airlines Corporation Limited (PIA) has given in-principle approval to a special allocation for the Engineering and Maintenance division of PIA, in view of the ongoing privatization process.
According to a statement issued on Friday, the Board of Directors also considered the proposal regarding the transfer of PIA assets to a state-owned PIA holding company.
It also approved measures related to aircraft repairs, engine acquisition and the purchase of spare parts, in order to support the airline’s current operational needs and next year’s operational plan.
The board directed the management to ensure the timely completion and implementation of all pending regulatory and operational approvals towards the privatization of the airline.
The Board of Directors, at its 94th meeting held on Thursday, commended the airline’s management for its continued efforts which led to the removal of EU and UK flight restrictions, a significant milestone after almost five years.
The board also appreciated the airline’s overall performance, in terms of maintaining schedule integrity and aircraft maintenance deadlines to serve the main routes of Paris, Manchester and Toronto.
