Amsterdam: To restore its building, PIA is seeking investors.

To restore one of its buildings in Amsterdam, the Netherlands, Pakistan International Airlines (PIA) is seeking partners.

A two-person delegation from the PIA, led by General Manager Jehangir Baloch and Projects Director, has travelled for Amsterdam in search of investors.

property rehabilitation will require a capital investment of between 150,000 and 200,000 euros. The property has not been used since 2016. Since the end of air operations in 2016, the ground plus three-story structure held by the PIA has been vacant.

Reportedly, the PIA-owned structure is non-transferable even following the national flag carrier’s privatisation.

A PIA representative has attested to the fact that money is being sought for the building’s refurbishment.

In a major move towards Pakistan International Airlines’ (PIA) privatisation, the federal cabinet approved the establishment of a board for the recently formed PIA Holding Company on Tuesday.

The 11-member board was approved by the cabinet, and Air Marshal Aamir Hayat was named the company’s first CEO. Prime Minister Shehbaz Sharif’s extraordinary authority allowed the cabinet to pass a circular resolution that resulted in this important decision.

Tariq Bajwa, a former State Bank governor and Finance Secretary, chairs the board, which also includes four government officials and seven independent directors.