Pakistan International Airlines announced on Wednesday that it will restart direct flights to the UK next month, revoking a five-year ban as it prepares for the national airline’s privatization this year.
The UK has granted approval for PIA to conduct passenger and cargo flights, according to a statement from the airline. Initial operations will commence from Manchester, with plans to expand to Birmingham and London.
The privatization of PIA is a crucial requirement for Pakistan’s $7 billion bailout agreement with the International Monetary Fund.
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In 2020, the UK and the European Union suspended PIA’s operations in the area due to safety concerns, following revelations by Pakistan’s former aviation minister about pilots holding fake licenses.
The EU lifted its ban in November after Pakistan met international aviation regulatory standards.
This month, PIA announced its first pre-tax profit in 20 years.
Five domestic business groups, including Airblue, Lucky Cement (LUKC.PSX), investment firm Arif Habib (AHL.PSX), and military-backed Fauji Fertilizer (FAUF.PSX), have shown interest in acquiring the national airline.
Final bids are anticipated later this year.
