PIA not to sell New
York’s Roosevelt Hotel
Pakistan’s aviation
minister Khawaja Saad Rafique has denied reports that Pakistan International
Airlines (PIA) is looking to sell its Roosevelt Hotel in New York.
Addressing a press
conference in Lahore on Saturday, he said no such thing was even under
consideration.
He said Pakistani flag
was hoisted at the hotel only when a head of state of the country stayed over
there. Otherwise, he said, only two flags were displayed at the hotel,
including one of the US and the other one of the hotel in routine days.
The Roosevelt Hotel is
owned by the Pakistan International Airlines (PAI) through a PIA-Investment
Limited. The PIA-IL holds its stakes through a subsidiary, registered in the
British Virgin Islands.
Khawaja Saad Rafique said
current administration of the PIA was looking to start renovation work at the
hotel to reduce the financial burden of US$25 million.
Talking about Pakistan
International Airlines, the Minister said discussions with the European and
American officials are being held to get rid of sanctions.
The minister said that the
PIA had recently earned Rs 2.14 billion from a joint venture with the Turkish
Airlines. He added that a proposal from the Emirates Airline for a joint
venture was under consideration.
The minister said that two Boeing 777 were getting renovated for induction in the fleet of the airlines soon.