A consortium led by Arif Habib has acquired a 75 percent stake in PIA for Rs. 135 billion, marking a major step toward the airline’s revival.
The group has announced plans to gradually expand PIA’s fleet to 64 aircraft as part of its long-term strategy to strengthen operations and improve services.
Fauji Fertiliser Company has also joined the consortium, adding further financial strength to the deal. In addition to the majority acquisition, the group has shown its intention to purchase the remaining 25 percent stake in PIA, which is valued at Rs. 45 billion. This would give the consortium full ownership of the national airline in the future.
According to government officials, PIA is expected to begin operations under the new ownership by April 2026. The transition period will focus on stabilizing the airline, improving efficiency and preparing for growth.
As part of the agreement, the new owners have committed to retaining existing employees for at least 12 months, providing job security during the initial phase of restructuring.
The deal is aimed at injecting fresh capital into PIA, which has faced financial and operational challenges for many years. Authorities believe private sector management will help improve performance, restore passenger confidence, and enhance the airline’s competitiveness.
The transaction also supports Pakistan’s broader economic reform programme under IMF. By reducing the government’s burden and attracting private investment, the move is seen as a positive signal for economic stability and reform.
