PIA shortlists ex-Ethiopian Airlines boss as new CEO

Dhaka: Pakistan International Airlines (PIA) has shortlisted former Ethiopian Airlines Group Chief Executive Officer Tewolde Gebremariam for the role of its CEO, according to media reports.

The newly privatized carrier might officially announce the appointment by July 12, though formal processes remain pending, the reports said, citing a source familiar with the matter.

Under Gebremariam's leadership, Ethiopian Airlines grew into Africa's largest carrier, linking cities across the continent through its Addis Ababa hub.

Industry analysts expect his appointment could strengthen the Arif Habib-led consortium's efforts to turn around the struggling national airline following its acquisition of a majority stake.

PIA has undergone a long and complex privatization process, as the government aimed to divest its majority stake and revitalize the loss-making carrier.

Last year, an Arif Habib Group-led consortium secured the winning bid. It offered PKR 135 billion for a 75% stake in PIA — 35% above the government's reference price — while it also committed an additional PKR 80 billion for future investments.

Shareholders of PIA Holding Company Limited formally approved the divestment of the 75% stake by April 2026. Shortly after, on April 30, the consortium moved to acquire the remaining 25% stake, paving the way for the carrier's full privatization.

The Privatisation Commission of Pakistan achieved the first closing of PIA's divestment last month. It transferred management control of the airline to the Arif Habib-led consortium after all conditions precedent under the Share Purchase and Subscription Agreement were satisfied.