The Arif Habib Group has announced plans to purchase the remaining 25 percent shares of Pakistan International Airlines (PIA). If approved, this move will give the private consortium complete ownership of the national airline.
Earlier in December, the group acquired 75 percent shares of PIA for nearly Rs135 billion. Now, the remaining 25 percent stake is valued at around Rs45 billion. The deadline to complete this purchase is the end of April.
Group CEO Shahid Ali Habib said the consortium expects to receive regulatory approval in April. After formal approval, the payment for the remaining shares will be made within one year.
The government started the privatization process to improve the airline’s condition. PIA has faced financial losses for many years. Through private ownership, the aim is to reduce losses and bring major improvements. These include adding more aircraft to the fleet, improving safety standards, and providing better services to passengers. The plan also focuses on improving overall performance and daily operations.
The investor consortium includes well-known companies such as Fatima Fertilizer, Fauji Fertilizer Company, Lake City, The City School, and AKD Group. Their involvement shows strong support from the private sector.
Full private control could bring positive change to the airline. Many people are now waiting for the final approval that will decide the future direction of PIA.
The coming months are expected to be important for the future of Pakistan’s national carrier.