Pakistan International Airlines (PIA) has been sold to the Arif Habib consortium in a deal worth Rs135 billion. The national airline had been facing serious financial problems for many years. Between 2015 and 2024, PIA recorded total losses of around Rs500 billion, which comes to an average loss of about Rs4.1 billion every month.
According to officials, the government structured the sale in a way that includes both cash and ownership stakes. Under the agreement, the government will receive Rs10 billion in cash and Rs45 billion in equity. In addition, around Rs125 billion is planned to be reinvested into the airline to help improve its operations, financial health, and overall performance.
Government representatives said that finding a buyer was extremely difficult because PIA had been running at a loss for a long time and carried heavy financial and operational challenges. Many potential investors were unwilling to take on these risks.
Despite these challenges, officials stressed that the purpose of the sale is to revive PIA and put it on a more stable and sustainable path. The move is expected to help modernize the airline, improve services, reduce the burden on public finances, and secure the future of the national carrier.
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