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, as the airline’s new owners push ahead with an ambitious turnaround plan.
According to Bloomberg, PIA is aiming to officially announce the appointment by Sunday, although the necessary formal approvals and procedures are still pending. The report, citing a person familiar with the matter, said both PIA and Gebremariam declined to comment on the development.
If confirmed, the appointment would mark a significant step in the airline’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 connecting destinations across Africa and beyond.
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.
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