Fauji Fertilizer Company (FFC) has officially entered the bidding process for Pakistan International Airlines (PIA), according to a private television channel’s report released Monday.
The company submitted a formal expression of interest ahead of the government’s set deadline for privatizing the national airline, marking a significant move in the ongoing efforts to offload the financially troubled carrier.
Reports indicate that FFC’s board has also reviewed and approved the airline’s financial assessment, further solidifying its commitment to the potential takeover.
The privatization plan, which includes a sale of anywhere between 51% to full ownership in PIA, aims to overhaul underperforming state-run enterprises through private sector engagement.
A previous attempt to sell the airline in 2023 failed when Blue World City proposed Rs10 billion—far below the government’s floor price of Rs85 billion.
FFC, a publicly listed entity based in Pakistan, operates primarily in the production and distribution of fertilizers and chemicals. The firm also maintains a diverse portfolio with investments spanning energy, cement, food processing, and financial services.
In contrast, PIA continues to operate as a full-service aviation provider. During the last fiscal year, it transported nearly 4 million passengers to 30 destinations and maintained a schedule of over 250 flights weekly.
