ISLAMABAD: Pakistan International Airlines (PIA) has reached a major milestone in its history as the privatization process of the national carrier has been successfully completed, with full ownership of PIA Equity Limited transferred to a consortium led by Arif Habib.
According to official details, the 100% ownership rights of Pakistan International Airlines have been handed over to the Arif Habib Consortium following a transparent and competitive privatization process. Officials said the move is aimed at modernizing the national airline and restoring its global reputation.
The chairman of PIA Equity Limited stated that the administrative transfer marks an important step toward restructuring the national flag carrier on modern lines and improving its operational performance. He added that all regulatory requirements, creditor approvals, and tax obligations were completed as part of the process.
PIA Equity Limited is a special purpose vehicle led by Arif Habib Corporation. The consortium reportedly secured the deal for approximately Rs. 180 billion. It includes several major Pakistani business groups such as Fatima Fertilizer Company, Fauji Fertilizer Company, Lake City Holdings (Pvt) Ltd, The City School (Pvt) Ltd, and AKD Group Holdings.
Under the agreement, Rs. 55 billion will go to the Government of Pakistan as privatization proceeds, while Rs. 125 billion will be injected as fresh equity into PIA to support operational improvements, fleet modernization, route expansion, and digital transformation.
The new management said the restructuring will reduce bureaucratic delays and enable faster, more business-oriented decision-making, helping transform PIA into a competitive international airline.
The incoming chairman said that rebuilding public trust would be the top priority, emphasizing that confidence in the airline is earned through consistent service, not just administrative changes.
He added that the new management is committed to preserving PIA’s legacy while transforming it into a modern, world-class carrier.
