The Pakistan International Airlines (PIA) is looking for investors to rehabilitate one of its properties in Amsterdam, the Netherlands.

In search of investors, a two-member team from the PIA, including the projects director and General Manager Jehangir Baloch, has left for Amsterdam.

A capital investment of 150,000 to 200,000 euros are needed to rehabilitate the building, which has been lying inactive since 2016. The PIA-owned ground plus three-storey building has been inactive since air operations ceased in 2016.

@Official_PIA office in Amsterdam! They say PIA was one of the popular airlines in Europe! But now, even the office is closed.

منزلِ عشق میں ہر گام پر رونا آیا pic.twitter.com/W8UF3doM2x
— Mustafa Kamal (@MustafaofGB) March 16, 2024

According to reports, the PIA-owned building cannot be sold even after the privatisation of the national flag carrier.

A PIA spokesperson has confirmed the fact that funds are being sought for the renovation of the building.

Also Read: Privatisation of PIA advances: Cabinet clears 11-member board for holding company

On Tuesday, the federal cabinet gave its nod to the formation of a board for the newly established PIA Holding Company, marking a significant step forward in the privatization process of Pakistan International Airlines (PIA).

Air Marshal Aamir Hayat has been appointed as the inaugural CEO of the company, following the cabinet's approval of the 11-member board. This crucial decision was reached through a circular resolution from the cabinet, granted under the special authority of Prime Minister Shehbaz Sharif.

The board comprises former State Bank Governor and Finance Secretary Tariq Bajwa as its Chairman, along with seven independent directors and four government officials.