Fauji Fertilizer Company (FFC) has officially announced its intention to acquire Pakistan International Airlines (PIA), marking a major development in the national carrier’s privatization process.
The FFC Board approved the acquisition plan during its 234th board meeting. As part of the process, the company will submit a pre-qualification application to the Privatisation Commission.
According to stock market analysts, FFC emerges as another financially strong contender in the race to acquire PIA. Analysts also noted that FFC is looking to expand its business operations into other sectors.
FFC has informed the Pakistan Stock Exchange (PSX) about its expression of interest in acquiring the airline.
