Former Ethiopian Airlines emerges front runner for PIA CEO position
Pakistan
International Airlines (PIA) has reportedly shortlisted former Ethiopian Airlines Group Chief
Executive Officer Tewolde Gebremariam to lead the national flag carrier as its
next chief executive, marking a key step in the airline's post-privatization
restructuring.
According to a Bloomberg report, PIA is expected to
announce the appointment as early as Sunday, although the required regulatory
approvals and formal procedures are still pending. Citing a person familiar
with the matter, Bloomberg said neither PIA nor Gebremariam commented on the
reported development.
If confirmed, Gebremariam's appointment would represent
a significant move by PIA's new owners as they seek to revive the financially
troubled airline following its privatization.
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Airlines planning to start direct Lahore flights to boost trade, connectivity
The airline was acquired last month by a consortium led
by businessman Arif Habib under the government's privatization programme. The
transaction, valued at approximately Rs180 billion, included the purchase of a
majority stake as well as fresh capital investment in the carrier.
Bloomberg also reported that the consortium has agreed
to purchase the government's remaining 25 percent stake in PIA at a premium to
the price paid for the initial acquisition.
Gebremariam is widely recognised for transforming
Ethiopian Airlines into Africa's largest airline during his tenure, overseeing
rapid fleet expansion, strengthening the carrier's global network and
establishing Addis Ababa as a leading aviation hub connecting Africa with
international destinations.
PIA has faced years of financial challenges, including
persistent losses, mounting debt, an ageing fleet, operational inefficiencies
and governance issues, relying on repeated government support to sustain
operations.
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and Pakistan agree to strengthen aviation cooperation
The airline's new management has pledged to restore PIA's competitiveness by
expanding direct international services, modernising operations and increasing
its fleet to 38 aircraft as part of a long-term growth strategy.
Source:
Pro Pakistani