The Arif Habib Group-led consortium is moving to acquire the remaining 25% government stake in Pakistan International Airlines (PIA). This will give the consortium full ownership of the national carrier.
The move is part of a broader strategy aimed at rebranding PIA and transforming the airline into a modern, efficiently managed private entity. The change will allow the new owners to implement management reforms without interference from government-appointed board members.
Timeline for Acquisition
The government has provided a 90-day window for the consortium to complete the purchase of the remaining stake, valued at approximately Rs45 billion. The deadline is set for the end of April, and under the January agreement, the fund transfer can be completed within 12 months.
The CEO of Arif Habib Ltd confirmed that the change of sponsors is expected by late April or early May. He said the full acquisition will allow the airline to operate as a fully private entity, giving management the freedom to implement reforms swiftly and effectively.
Focus on Modernization and Rebranding
With complete control, the consortium plans significant operational and strategic changes. These include modernizing the fleet, improving customer service, and rebranding PIA to boost its image in domestic and international markets. Officials emphasized that the privatization will help the airline shed old challenges and legacy debt while entering a new era of growth.
The government has already assumed most of PIA’s historic debt. Key bans by the UK and EU have also been lifted, creating a favorable environment for a revival. The airline’s privatization auction, held in December last year, was broadcast live and marked a historic step toward restructuring Pakistan’s aviation sector.
Implications for Pakistan’s Aviation Sector
Analysts say the move will bring fresh investment, better management practices, and improved competitiveness to Pakistan’s aviation market. The focus on rebranding PIA reflects a larger goal of reviving the national carrier’s image and operational efficiency.
The Arif Habib Group’s full acquisition is expected to mark a turning point for Pakistan International Airlines, combining private ownership with strategic reforms for long-term sustainability.
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