Airline CEO says Skywise may sell stake to stay aloft

Budget airline Skywise has struggled to stay afloat and will consider selling off a stake to both foreign and local investors.

Low cost airline Skywise will consider refinancing measures to overcome financial constraints.

Skywise CEO Tabassum Qadir says four foreign companies and two local investors are interested in a partnership.

Skywise has received numerous expressions of interest from various investors, from which we shortlisted six.

Tabassum Qadir, Skywise co-chairperson and CEO

According to Qadir, the airline needs to restructure its management and operations.

She says that the company will negotiate the stake percentage on offer as law does not allow more than 25% foreign shareholding.

Qadir says that the political and regulatory environment has made the survival of
private budget airlines strenuous.

Listen to the full conversation from The Midday Report:

This article first appeared on 702 : Airline CEO says Skywise may sell stake to stay aloft

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