Former Ethiopian Airlines chief emerges as frontrunner for PIA CEO

WEBDESK: Pakistan International Airlines (PIA) has reportedly selected former Ethiopian Airlines Group chief executive Tewolde Gebremariam as its preferred candidate for the position of chief executive officer, according to a Bloomberg report citing a person familiar with the matter.

The report said the airline aims to formally announce the appointment by Sunday, although procedural requirements have yet to be completed. The source, who requested anonymity because the discussions are confidential, said the process is still subject to final approvals.

Neither PIA nor Gebremariam immediately responded to Bloomberg’s requests for comment.

If confirmed, the appointment would mark a significant step in the new management’s efforts to revive the financially troubled national carrier. Gebremariam is widely credited with transforming Ethiopian Airlines into Africa’s largest airline during his tenure, expanding its international network and strengthening Addis Ababa’s position as a major aviation hub on the continent.

PIA has struggled for years with persistent financial losses, mounting debt and operational challenges. The airline relied on repeated government support as it grappled with an ageing fleet, inefficiencies and political interference, which eroded its competitiveness in both domestic and international markets.

The reported appointment comes after a consortium led by Pakistani businessman Arif Habib acquired a majority stake in the airline as part of the government’s privatisation programme. The transaction, finalised last month, is valued at Rs180 billion (approximately $647 million) and includes both the purchase of the government’s controlling stake and a commitment to inject fresh investment into the airline.

According to Bloomberg, the consortium also plans to acquire the government’s remaining 25% stake at a premium to the original purchase price, giving it full ownership of the carrier.

The new owners have outlined an ambitious turnaround strategy centred on restoring PIA’s market position. Their plans include expanding direct international services and increasing the airline’s fleet to 38 aircraft, with the aim of improving connectivity, boosting passenger numbers and returning the carrier to long-term commercial sustainability.