The longest-serving former Ethiopian Airlines CEO, Tewolde Gebremariam, has reportedly been shortlisted for the role of CEO of Pakistan International Airlines (PIA), Bloomberg reported.
Citing anonymous sources, the report said the newly privatized airline plans to announce its choice by Sunday.
The appointment is part of an effort to revive the struggling national carrier, in which Pakistani business tycoon Arif Habib has acquired a majority stake.
Tewolde is one of the world’s most distinguished aviation executives. During his tenure, he maintained Ethiopian Airlines’ long-standing leadership in Africa by continuously expanding its fleet, route network, and profitability. Citing health reasons, Tewolde stepped down in 2022. Since then, he has been involved in global aviation advisory roles.
Pakistan International Airlines survived for years on government bailouts after suffering massive losses and accumulating heavy debt due to operational inefficiencies, an aging fleet, and political interference. The new owners plan to reclaim the airline’s market share by introducing more direct flights and doubling its fleet to 38 aircraft.
The new investors completed the $647 million deal last month, which includes the acquisition of a majority stake and fresh investment in the carrier. They have also agreed to purchase the government’s remaining 25% stake at a premium to the initial price, the Bloomberg report added.
