{"id":100430,"date":"2024-11-08T12:51:55","date_gmt":"2024-11-08T07:51:55","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=100430"},"modified":"2024-11-08T15:17:16","modified_gmt":"2024-11-08T10:17:16","slug":"overseas-group-offers-big-to-acquire-pia","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/overseas-group-offers-big-to-acquire-pia.html","title":{"rendered":"Overseas Pakistani group offers PKR 125 bn to acquire PIA"},"content":{"rendered":"\n<p>Islamabad: Al Nahang, an overseas Pakistani group, has proposed a substantial Rs125 billion offer to acquire the struggling national carrier. As part of this proposal, the group has pledged to settle PIA\u2019s massive Rs250 billion debt, providing a potential path forward for the debt-ridden airline.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Al Nahang&#8217;s formal offer, reportedly submitted via email to Pakistan\u2019s ministers of privatization, aviation, and defense, outlines an ambitious plan to overhaul PIA\u2019s operations. The proposal includes a commitment to retain all current employees, paired with a phased salary increase plan that promises to double employee wages over 30 pay periods.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pia-roosevelt-hotel.html\" target=\"_blank\" rel=\"noreferrer noopener\">PIA Roosevelt Hotel: ECC gives nod to rental deal with NYC govt, union<\/a><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Additionally, Al Nahang has presented a detailed business model for PIA\u2019s future, which emphasizes modernizing the airline\u2019s fleet by adding newer aircraft and transforming PIA into a regional maintenance hub for other carriers.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>In a separate development, PIA is actively seeking a new chief executive officer to replace Amir Hayat, whose term has recently ended. An official advertisement invites qualified candidates aged 45-57 years with 20 years of experience managing large corporations\u2014or at least a decade in aviation management\u2014to apply within 15 days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Al Nahang, an overseas Pakistani group, has proposed a substantial Rs125 billion offer to acquire the struggling national carrier. As part of this proposal, the group has pledged to settle PIA\u2019s massive Rs250 billion debt, providing a potential path forward for the debt-ridden airline. Al Nahang&#8217;s formal offer, reportedly submitted via email to Pakistan\u2019s ministers of privatization, aviation, and defense, outlines an ambitious plan to overhaul PIA\u2019s operations. The proposal includes a commitment to retain all current employees, paired with a phased salary increase plan that promises to double employee wages over 30 pay periods. Read: PIA Roosevelt Hotel: ECC gives nod to rental deal with NYC govt, union Additionally, Al Nahang has presented a detailed business model for PIA\u2019s future, which emphasizes modernizing the airline\u2019s fleet by adding newer aircraft and transforming PIA into a regional maintenance hub for other carriers. In a separate development, PIA is actively seeking a new chief executive officer to replace Amir Hayat, whose term has recently ended. An official advertisement invites qualified candidates aged 45-57 years with 20 years of experience managing large corporations\u2014or at least a decade in aviation management\u2014to apply within 15 days.<\/p>\n","protected":false},"author":18,"featured_media":76107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[60371,60368,60259,1684,60370,60372,59909,60369,60367,60365,60373,59606,60366],"persona":[],"class_list":{"0":"post-100430","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-airline-modernization","9":"tag-al-nahang","10":"tag-aviation-industry","11":"tag-islamabad-news","12":"tag-national-carrier-acquisition","13":"tag-overseas-pakistani-group","14":"tag-pakistan-international-airlines","15":"tag-pia-acquisition","16":"tag-pia-ceo-search","17":"tag-pia-debt-settlement","18":"tag-pia-employee-retention","19":"tag-pia-privatization","20":"tag-rs125-billion-bid","21":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Overseas group offers big to acquire PIA - Zameen News<\/title>\n<meta name=\"description\" content=\"The proposal includes a commitment to retain all current employees, paired with a phased salary increase plan that promises to double...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/overseas-group-offers-big-to-acquire-pia.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Overseas group offers big to acquire PIA - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The proposal includes a commitment to retain all current employees, paired with a phased salary increase plan that promises to double...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/overseas-group-offers-big-to-acquire-pia.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-08T07:51:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-08T10:17:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/PIA.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samra Zulfiqar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samra Zulfiqar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Overseas group offers big to acquire PIA - Zameen News","description":"The proposal includes a commitment to retain all current employees, paired with a phased salary increase plan that promises to double...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/overseas-group-offers-big-to-acquire-pia.html","og_locale":"en_US","og_type":"article","og_title":"Overseas group offers big to acquire PIA - Zameen News","og_description":"The proposal includes a commitment to retain all current employees, paired with a phased salary increase plan that promises to double...","og_url":"https:\/\/www.zameen.com\/news\/overseas-group-offers-big-to-acquire-pia.html","og_site_name":"Pakistan Real Estate News &amp; 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