No plans to acquire PIA: Emirates
Emirates denies of planning to buy any airline after a report claiming two UAE carriers were interested in buying Pakistan’s transport PIA that the country’s government is trying to privatize.
In a statement to Arabian Business, Emirates denied any aim of doing so.
A spokesperson for the airline said. “Emirates has no plans to buy or acquire any airline.”
According to Reuters, there was a time when PIA wet-leased two aircraft to Emirates in 1985. Since then the carrier’s fortunes have dropped, and the airline’s total debt stood at $1.8 billion at the end of 2016 the airline loses $30 million each month.