Pakistan International Airlines (PIA) has shortlisted Tewolde Gebremariam, the former chief executive officer of Ethiopian Airlines Group, as its next CEO, according to a Bloomberg report published on Friday.
Citing a person familiar with the matter, the report said the newly privatised airline intends to officially announce the appointment by Sunday, although the required formal procedures are still pending.
According to Bloomberg, Gebremariam’s appointment could strengthen the Arif Habib-led consortium’s efforts to revive the financially troubled national carrier following its acquisition of a majority stake.
“Under Tewolde’s leadership, Ethiopian Airlines grew into Africa’s largest carrier, providing a link to cities around the continent from its transit hub in Addis Ababa,” the report said.
PIA has undergone an extensive privatisation process as part of the government’s efforts to restructure and revitalise the loss-making airline.
Last year, a consortium led by the Arif Habib Group secured the winning bid by offering Rs135 billion for a 75% stake in PIA, exceeding the government’s reference price by 35%. The consortium also pledged an additional Rs80 billion in future investments.
In April 2026, shareholders of PIA Holding Company Limited approved the sale of the 75% stake. On April 30, the Arif Habib-led consortium moved to acquire the remaining 25% stake, paving the way for the airline’s full privatisation.
Last month, the Privatisation Commission completed the first closing of PIA’s divestment, transferring management control of the airline to the Arif Habib-led consortium after all conditions under the Share Purchase and Subscription Agreement (SPSA) were fulfilled.
