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Pakistan Finalizes PIA Privatization Auction for October 30 Amid Reforms

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The Pakistani government is set to hold the final auction for Pakistan International Airlines (PIA) on October 30, 2024, marking a significant step in its broader economic reform agenda. This privatization move, supported by the International Monetary Fund (IMF), aims to alleviate the national carrier’s financial struggles while addressing broader economic challenges through structural reforms. Six consortia, comprising both local and international companies, have pre-qualified to bid for a 60% equity stake in PIA.

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Potential Revival of Air Belgium as Buyers Plan for Expansion

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Mozambique Pays $3M to euroAtlantic for LAM Contract Termination

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The government of Mozambique has confirmed the payment of US$3 million to euroAtlantic Airways (Portugal) as part of the termination settlement for a contract involving LAM – Linhas Aéreas de Moçambique, the state-owned national carrier. While the amount satisfies Mozambique’s obligations, it remains below the level of compensation originally demanded by euroAtlantic.