TFD Stocks Overview

PIA to sell aircraft spare parts ahead of privatisation

ISLAMABAD: In a significant move ahead of the privatisation of Pakistan International Airlines (PIA), the airline’s management has announced the sale of additional spare parts for various categories of aircraft, valued at millions of rupees.
The management, focusing on streamlining resources, has decided to put spare parts of Boeing 737, Boeing 707, Fokker, and Cessna aircraft up for sale, issuing a tender for interested parties.
Sources reveal that these spare parts have been stocked in PIA’s inventory for several years. The management has opted to invite bids for the sale of spare parts of these ageing aircraft on an “as-is-where-is” basis.
Interested parties are urged to submit their applications to participate in the tender process, with the deadline set for April 29, as confirmed by the PIA administration.
Meanwhile, an extraordinary annual general meeting of the national airline, PIA, has been scheduled for April 20 to address the matter of privatisation.
All shareholders of the airline have been cordially invited by the PIA management to participate in the meeting. The shareholders will be briefed on crucial matters, with a particular focus on the privatisation of PIA.