PIA Privatisation Completed as New Owners Take Control
PIA Privatisation reached a major milestone on Monday as the national airline officially came under the management of PIA Equity Ltd, a special purpose vehicle (SPV) of the Arif Habib-led consortium. The transition completed the government’s privatisation process and marked the beginning of a new phase for the airline. The new owners plan to modernise operations, expand services, and restore PIA’s position in the global aviation industry.
Consortium Takes Charge of National Carrier
The transfer followed the completion of all local and international regulatory approvals. Authorities also secured permissions from global lenders and received the required tax concessions before finalising the handover.
The consortium includes Arif Habib Group, Fatima Fertilizer Company Ltd, Fauji Fertilizer Company Ltd, Lake City Holdings, The City School, and AKD Group Holdings. Together, the group has acquired full private ownership of PIA through a transaction worth around Rs180 billion. The deal includes Rs55 billion for the government through divestment and Rs125 billion in fresh investment for the airline. As a result, the new management plans to renew the fleet, improve services, expand routes, and strengthen daily operations.
Prime Minister Shehbaz Sharif welcomed the development and described it as an important step in Pakistan’s economic reform programme. He said the investment would revive the airline while strengthening investor confidence. In addition, he praised Deputy Prime Minister Ishaq Dar, Adviser on Privatisation Muhammad Ali, Finance Minister Muhammad Aurangzeb, the Privatisation Commission, and others for completing the transaction.
New Management Promises Better Service
The new chairman said earning passengers’ trust remains the airline’s top priority. He stressed that trust comes through consistent service and long-term commitment. Therefore, the management will focus on improving customer experience while preserving PIA’s heritage.
The consortium has also taken over operating rights after resolving legacy liabilities. It now aims to raise service standards, compete with leading international airlines, and build a modern, customer-focused national carrier.
