Businessman Arif Habib has strongly rejected claims circulating on social media that Pakistan International Airlines (PIA) was sold at a very low price. He clarified that these claims are misleading and do not reflect the airline’s actual financial position.
Arif Habib explained that PIA currently has zero book value, meaning its total liabilities are almost equal to its total assets. Because of this situation, the airline effectively has no equity. This is why the consortium acquired a 75 per cent stake for Rs135 billion, which he said was based on careful financial evaluation rather than undervaluation.
He further stated that PIA’s net asset value is approximately Rs25 billion, mainly due to deferred tax assets. However, this amount does not change the overall financial reality, as the airline has been struggling with heavy losses for years.
Habib also highlighted that one of the key steps after the acquisition will be to address operational inefficiencies. He said that loss-making and unprofitable routes will be closed to prevent further financial damage. However, if the government decides that certain routes are necessary for public service or strategic reasons, those routes may continue with government subsidies.
Calling the acquisition a critical move toward PIA’s revival, Arif Habib expressed hope that improved management, better financial discipline, and smarter operational decisions will help stabilize the national airline and gradually restore its performance.
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