Pakistan International Airlines shifts to private ownership under Arif Habib Consortium

Pakistan International Airlines (PIA) has officially transitioned to private ownership. The takeover was completed by PIA Equity Ltd, a special-purpose vehicle of the Arif Habib Consortium. This marks the government's second attempt to sell the airline after an earlier effort fell through due to pricing issues. The Arif Habib-led consortium secured the deal after outbidding the Lucky Group consortium. The transaction is valued at around Rs180 billion (Dh2.4 billion), with Rs55 billion allocated as government proceeds and Rs125 billion as fresh equity for PIA.

Under new management, PIA will begin a restructuring programme. This will include fleet renewal, route expansion, and operational improvements. The airline currently operates 19 active aircraft, comprising 11 A320s, two ATR42-500 turboprops, and six B777s.

The new owners have emphasised that passenger relationships will remain a priority. They aim to enhance service quality while implementing the planned changes. The privatisation of PIA follows a competitive bidding process. The airline’s future now rests with the Arif Habib Consortium, which plans significant upgrades to its operations. The government will receive Rs55 billion from the deal, with the rest reinvested into the carrier.