KARACHI: Arif Habib Group has announced plans to acquire the remaining 25 per cent government stake in Pakistan International Airlines (PIA), a move that would place the airline fully under private ownership.
Speaking to media, Group Chief Executive Officer Shahid Ali Habib said the consortium intends to complete the acquisition after final approval expected in April, with payment planned within the following 12 months.
The announcement comes after the consortium acquired 75 per cent shares in December last year for approximately Rs135 billion. The remaining shares are estimated to be worth around Rs45 billion, with the purchase deadline set for the end of April.
Officials said full ownership would allow PIA to operate entirely as a private entity, free from government-nominated oversight, and enable faster decision-making in operational and financial matters.
The government initiated privatisation to restructure the loss-making airline, expand its aircraft fleet and improve passenger services, safety standards and operational efficiency.
The consortium includes major corporate partners such as Fatima Fertiliser, Fauji Fertiliser Company, Lake City, and a partnership involving The City School and AKD Group, reflecting broad private sector investment in the airline’s future.
