Pakistan International Airlines (PIA) is approaching a critical turning point, with Prime Minister Shehbaz Sharif announcing that bidding for the national carrier will take place on December 23, to be broadcast live for transparency. The move comes under a $7 billion IMF program after years of losses and failed attempts to privatise the airline. Once a symbol of national pride, PIA now struggles with debt, outdated aircraft, and management crises.
Originally founded in 1946 as Orient Airways, the airline became PIA after nationalisation in 1955. Under visionary leaders like Air Commodore Nur Khan, it flourished, operating modern jets, opening international routes, and even assisting Emirates in its early days. However, from the 1980s onwards, political interference, overstaffing, mismanagement, and flawed procurement eroded its competitiveness. Safety scandals, including the 2020 Karachi crash and fake pilot licenses, led to bans in the US and Europe, further damaging its reputation.
With liabilities reaching $9.18 billion and assets at $1.78 billion, privatisation is seen as the only viable solution. The future depends on modernising the fleet, improving safety, reducing inefficiencies, and restoring global trust to revive PIA’s legacy.
