Punjab Government mulls over launching provincial airline
Senior Provincial Minister Marriyum
Aurangzeb has announced that the Punjab government is planning to establish its
own airline, Air Punjab, following directives from Pakistan Muslim League-Nawaz
(PML-N) President and former Prime Minister Nawaz Sharif.
Aurangzeb stated that feasibility
studies for the project will soon be initiated. Private investors are expected
to join the venture, bringing in both capital and expertise to support the
airline’s launch.
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Addressing recent speculation,
Aurangzeb clarified that Air Punjab will serve as an alternative to Pakistan
International Airlines (PIA) and will not involve any acquisition of the
national carrier.
While the government’s stake in Air
Punjab is still under discussion, the provincial administration is anticipated
to hold a substantial share in the airline.
This decision follows the federal
government’s unsuccessful attempt to privatize PIA last week, when the sole
bid, submitted by Blue World City, fell significantly short of the minimum
asking price of Rs85 billion, offering only Rs10 billion. This failed bid
reportedly led Nawaz Sharif to consider a provincial airline rather than
pursuing PIA.
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With Air Punjab, the government aims
to boost connectivity and provide competitive travel options on domestic and
potentially regional routes, working closely with private investors to drive
the project forward.
Source:
Profit Pakistan