A private consortium that now holds majority stakes in Pakistan International Airlines (PIA) has appointed the airline's new chief financial officer (CFO), Mushtaq Rana, as part of its broader restructuring plans ahead of a potential takeover, sources revealed on Friday.
New CFO to Assume Charge
Rana will formally assume charge on June 8 and is expected to oversee the airline's financial affairs following the consortium's takeover. He previously served with a Saudi airline, bringing valuable international experience to the role.
Administrative Overhaul Planned
Sources disclosed that the consortium is planning a major administrative overhaul within PIA. Key positions are expected to be filled with highly qualified professionals to streamline operations and improve financial performance.
This appointment signals the consortium's commitment to restructuring the national carrier, which has faced financial challenges in recent years. The new CFO's expertise is expected to play a crucial role in stabilizing PIA's finances and preparing it for future growth.
