Pakistan Airlines Sale Gets One Bid From Real Estate Group.

Pakistan International Airlines Corp. received only one bid from Blue World City for a majority stake, significantly below the expected price. The government is in talks with the real estate group to potentially revise the offer. The sale is part of Prime Minister Shehbaz Sharif's efforts to privatize state-owned enterprises to boost the economy, with the winning bidder required to invest $500 million in the struggling airline. Other shortlisted bidders, including Lucky's Y.B. Holdings Pvt. and Air Arabia's Fly Jinnah, did not submit bids. [Extracted from the article]