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PIA’s Overseas Assets Revealed: Includes Dual-Value Hotels and Properties in Five Countries
Details of Pakistan International Airlines' (PIA) overseas assets revealed in Parliament. Includes valuable properties like Roosevelt Hotel in NYC and Scribe Hotel in Paris.
ND
by News Desk
2024-09-11
PIA’s Overseas Assets Revealed: Includes Dual-Value Hotels and Properties in Five Countries

The details of Pakistan International Airlines' (PIA) overseas assets have been officially presented in Parliament. The report reveals a diverse portfolio of properties and holdings across several countries, highlighting the national airline's substantial global footprint.

 

Among PIA’s most notable assets are the Roosevelt Hotel in New York and the Scribe Hotel in Paris, both of which are valued at approximately one billion dollars. These prestigious properties underscore the airline's significant international presence and its historical investments in high-value real estate.

 

In addition to these dual-value hotels, PIA owns an apartment in Amsterdam, Holland, and has holdings in Tashkent, Uzbekistan. The airline’s assets also include operational facilities such as account managers and booking offices in Mumbai and New Delhi, as well as a General Manager's residence on Saxon Road in the United States.

 

Within Pakistan, PIA’s asset portfolio extends to 32 inland properties, including the Avon Hotel, PIA Hospital, and a farm house at Nithia Gali. The airline’s total assets within the country are estimated at Rs 350 billion, covering numerous prime locations across 12 cities.

 

The revelation of these assets comes amid ongoing government efforts to privatize PIA. The government has been exploring options to sell the national airline for several months, and the detailed asset report provides insight into the scope and value of PIA’s international and domestic holdings.

 

This disclosure is expected to impact discussions on the future of PIA, as stakeholders evaluate the airline’s asset base in the context of its privatization strategy.

 
Tagged:

PIA

OverseasAssets

RooseveltHotel

ScribeHotel

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