PIA shortlists former Ethiopian Airlines chief for CEO role: report

Pakistan International Airlines (PIA) has shortlisted Tewolde Gebremariam, the former chief executive officer of Ethiopian Airlines Group, for the position of chief executive officer, according to a Bloomberg report.

Citing a person familiar with the matter, Bloomberg reported that the airline intends to formally announce the appointment by Sunday, although procedural formalities are still pending. The person requested anonymity as the discussions are private.

PIA and Tewolde Gebremariam avoided any comment. 

According to the report, the appointment could strengthen the Arif Habib-led consortium's efforts to revive the national carrier after acquiring a majority stake.

During Tewolde's tenure, Ethiopian Airlines expanded into Africa's largest airline, connecting destinations across the continent through its hub in Addis Ababa.

The consortium completed the acquisition last month through a Rs180 billion transaction covering the stake purchase and fresh investment. It has also decided to acquire the government's remaining 25% stake at a premium to the original purchase price.

The new owners plan to restore PIA's market position by introducing more direct international routes and expanding the airline's fleet from its current size to 38 aircraft.

PIA has relied on repeated government bailouts in recent years after accumulating heavy losses and debt due to operational inefficiencies, an ageing fleet and political interference.