Key Takeaways
- Pakistan International Airlines (PIA) has shortlisted the former CEO of Ethiopian Airlines, Tewolde Gebremariam, as its new CEO.
- The appointment is part of an ambitious turnaround plan by PIA’s new owners, who acquired a majority stake last month.
- Gebremariam is credited with transforming Ethiopian Airlines into Africa’s largest carrier during his tenure.
Pakistan International Airlines (PIA) has reportedly shortlisted Tewolde Gebremariam, the former Chief Executive Officer of Ethiopian Airlines Group, to lead the national carrier as its new CEO. According to Bloomberg, PIA is aiming to officially announce the appointment by Sunday, although formal approvals and procedures are still pending.
The move marks a significant step in PIA’s restructuring under its new owners, led by businessman Arif Habib, who acquired a majority stake in PIA last month as part of the government’s privatization program. Gebremariam is widely credited with transforming Ethiopian Airlines into Africa’s largest airline during his tenure, expanding its global network and establishing Addis Ababa as a major aviation hub.
PIA has struggled for years with mounting financial losses, heavy debt, an aging fleet, operational inefficiencies, and political interference, relying on repeated government bailouts to remain operational. The airline’s new owners have outlined plans to restore PIA’s market position by expanding direct international routes and increasing its fleet to 38 aircraft as part of a broader modernization strategy.
The acquisition, completed last month, was valued at Rs. 180 billion and included both the purchase of a majority stake and fresh investment in the airline. According to Bloomberg, the consortium has also decided to acquire the government’s remaining 25 percent stake at a premium to the original purchase price.
If confirmed, Gebremariam’s appointment would be a significant boost for PIA as it seeks to improve its operational efficiency and financial health. His experience in transforming Ethiopian Airlines could provide valuable insights into how to modernize and expand PIA’s operations.
Both PIA and Gebremariam declined to comment on the development, citing no official announcements yet. However, sources familiar with the matter stated that the appointment is expected to be officially announced by Sunday.
