Pak Ethanol (Private) Limited has announced the creation of a national consortium, partnering with major international aviation entities, including Air Asia and Swiss Aviation Group, to bid for a controlling interest in Pakistan International Airlines (PIA).
Headquartered in Pakistan, Pak Ethanol is the co-lead of this consortium, which includes local partners Serene Air (Private) Limited and Air Sial Limited.
According to a press release issued by Pak Ethanol on Saturday, the international members of the consortium are Capital A Consultancy (Air Asia Aviation Group) from Malaysia, Airport Competence from Austria, Pearl Asset Management PTY Limited from Australia, and AsiaPak Investments Limited from Hong Kong.
In a statement from the consortium’s lead entity, Pak Ethanol emphasized that the key to PIA’s transformation lies in a collaborative approach rooted in national loyalty. Swiss Aviation Group, a leading aircraft leasing company, recently facilitated leasing a substantial number of aircraft for Iraq post-conflict and has a significant presence in Africa and South America. Airport Competence, based in Austria, has led upgrade projects for Zurich Airport and major airports in Mumbai and Delhi, India.
AsiaPak Investments Limited, owned by Shehryar Chishti, is recognized for its recent acquisition of K-Electric, bringing substantial experience and resources to the consortium. This initiative leverages international public relations expertise and includes premier companies with proven records in aircraft leasing and aviation management. Co-led by House of Finance, the consortium is positioned as a leading force in PIA’s revitalization.
