Pakistan's national carrier to resume flights with Britain after five years

ISLAMABAD (Reuters) -Pakistan International Airlines said on Wednesday it would resume direct flights next month on its most profitable route to Britain, putting an end to a five-year ban before the planned privatisation of the national carrier this year.

Britain cleared the airline to operate passenger and cargo flights, PIA said in a statement, adding that it would start operations from Manchester, before extending them to Birmingham and London.

The privatisation of the airline is a key condition of Pakistan's $7-billion bailout by the International Monetary Fund.

Britain and the European Union suspended PIA's operation in the region in 2020 over safety concerns, after Pakistan's then aviation minister said some of its pilots had fake licences.

The EU lifted its ban in November after Pakistan worked to meet benchmarks set by international aviation regulators.

This month, PIA reported its first pre-tax profit in two decades.

Islamabad has drawn interest in the national carrier from five domestic business groups, including Airblue, Lucky Cement (LUKC.PSX), investment firm Arif Habib (AHL.PSX), and military-backed Fauji Fertilizer (FAUF.PSX).

Final bids are expected later this year.

(Reporting by Asif Shahzad; Editing by Clarence Fernandez)