Report in Pakistani daily claims Emirates and Etihad were interested in buying stakes of the airline which the government is attempting to privatise
Emirates has denied it has plans to buy into any airline, days after a report claimed two UAE carriers were interested in buying a piece of Pakistani flag carrier PIA that the country’s government is attempting to privatise.
Emirates and Etihad “were showing great interest in PIA,” The Express Tribune quoted an unnamed Pakistani official involved in the privatisation process to say.
However, in a statement to Arabian Business, Emirates denied any intention of doing so.
“Emirates has no plans to buy or acquire any airline,” a spokesperson for the airline said.
"We continue to focus on our organic growth, and will partner with other airlines where it benefits our customers and makes commercial sense."
Once a successful carrier, Pakistan International Airlines wet-leased two aircraft to Emirates when the latter began operations in 1985.
Since then the carrier’s fortunes have plummeted, and the airline’s total debt stood at $1.8 billion at the end of 2016 – the airline loses $30 million each month, according to Reuters.
Arabian Business has reached out to Etihad for comment.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.