Arif Habib-led consortium aims for full control of PIA by acquiring remaining 25%

2026-02-16 - 06:46

KARACHI – The Arif Habib Group-led consortium has announced its decision to purchase the remaining 25 percent shares of Pakistan International Airlines (PIA) from the government, bringing the total ownership of the national carrier under its control. Shahid Ali Habib, CEO of Arif Habib Limited, stated that once the full 100% shares are acquired, PIA will operate entirely as a private entity. He further stated in an interview with the BBC that the consortium had finalized its decision to purchase the remaining shares, with a plan to finalize the transaction in April and complete the payment within the next 12 months. This move follows the consortium’s purchase of 75% of PIA’s shares for Rs135 billion in December of the previous year. The government’s privatization plan aims to restructure the loss-making airline, expand its fleet, and improve services for passengers, making it profitable. After the privatization of 75% of PIA’s shares, the government granted the consortium a 90-day period to purchase the remaining shares, valued at approximately Rs45 billion, with the final date for this transaction set for the end of April. A 12-month period for the transfer of funds was set according to the agreement reached in January. The successful consortium includes Fatima Fertilizer with 34.1%, Fauji Fertilizer Company with 33.9%, Lake City with 16%, and AKD Group along with The City School, each holding 16%. Shahid Ali added that the plan for PIA’s improvement focuses on enhancing services, including staff and ticketing improvements, as well as better safety and security measures.