Karachi (Commerce Desk): The Arif Habib Group consortium has announced that it will purchase the remaining 25% government stake in Pakistan International Airlines, giving the private group full control of the national carrier.
According to Shahid Ali Habib, CEO of Arif Habib Limited, the consortium will finalize the deal in April and complete payment within 12 months. Once the 100% acquisition is complete, PIA will operate entirely in the private sector, free from government-appointed representatives.
Last December, the consortium acquired 75% of PIA shares for Rs 135 billion, with the remaining 25% valued at approximately Rs 45 billion. The airline’s improvement plan includes enhancements in services, staffing, ticketing, safety and security, and increased flight frequency on key routes.
The Arif Habib consortium includes ilizer","pakistan company"], Fauji Fertilizer Companypakistan company"], ","Lake City","pakistan conglomerate"], and City School. The government aims to make the loss-making airline profitable while improving its fleet and services.
Currently, PIA operates 38 aircraft, 18 of which are operational, and holds landing rights at 78 destinations worldwide. Post-privatization, employees will retain job security and benefits for one year, while pensions and dues for retired staff will be paid by PIA Holding Company. In 2024, PIA posted an operational profit of Rs 9.3 billion and a net profit of Rs 26.2 billion, compared to a net loss of Rs 75 billion in 2023.
