{"id":401528,"date":"2024-04-21T09:21:52","date_gmt":"2024-04-21T04:21:52","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=401528"},"modified":"2024-04-21T09:21:52","modified_gmt":"2024-04-21T04:21:52","slug":"pia-shareholders-vote-for-transfer-of-operations-to-its-holding-company","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/pia-shareholders-vote-for-transfer-of-operations-to-its-holding-company\/","title":{"rendered":"PIA shareholders vote for transfer of operations to its holding company"},"content":{"rendered":"<p> ISLAMABAD<br \/>\nAfter carefully deliberating a crucial restructuring proposal, the majority of the shareholders of Pakistan International Airlines Corporation Limited (PIACL) has voted for the transfer of operations to PIA Holding Company Limited (PIAHL), a statement said on Saturday.<br \/>\n\u201cIn a pivotal moment, shareholders overwhelmingly endorsed the proposal to transfer operations to the PIAHL, underscoring a vote of confidence in the restructuring efforts aimed at revitalising Pakistan\u2019s flagship airline and positioning it for sustained growth in the competitive aviation landscape,\u201d the PIA communique said.<br \/>\nIt said the annual extraordinary general meeting witnessed the participation of key stakeholders, including the Federal Secretary, Aviation Secretary, legal advisors, financial experts and the CEO of PIA, alongside all directors and shareholders.<br \/>\nThe primary agenda of the meeting was the proposed transfer of operations from the PIACL to the PIAHL. The shareholders extensively discussed the matter, emphasising the potential benefits and risks associated with the restructuring.<br \/>\nThe meeting was told that the company has started posting operating profits after thirteen years. The impressive financial performance was attributed to strategic initiatives undertaken by the administration in response to shareholder feedback.<br \/>\nFurthermore, shareholders witnessed a remarkable 700% surge in PIA\u2019s business, signalling optimism and confidence in the airline\u2019s future trajectory.<br \/>\nFollowing the completion of the International Aviation Safety Assessment (IASA) audit, the PIA unveiled plans to commence operations in Europe and Britain from June 2024, demonstrating its commitment to global expansion and service excellence.<br \/>\nThe government\u2019s unwavering commitment to PIA\u2019s revival was palpable throughout the meeting, with senior government officials actively participating to ensure stringent measures were in place for the airline\u2019s improvement, the statement said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD After carefully deliberating a crucial restructuring proposal, the majority of the shareholders of Pakistan International Airlines Corporation Limited (PIACL) has voted for the transfer of operations to PIA Holding Company Limited (PIAHL), a statement said on Saturday. \u201cIn a pivotal moment, shareholders overwhelmingly endorsed the proposal to transfer operations to the PIAHL, underscoring a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":265959,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-401528","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PIA shareholders vote for transfer of operations to its holding company<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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