ISLAMABAD: A consortium headed by the Arif Habib Group has revealed its intention to purchase the remaining 25 per cent shares of the government in Pakistan International Airlines, aiming to take complete ownership of the national airline.
Back in December 2025, the group bought a 75 per cent stake for Rs135 billion, outlining plans to turn around the financially troubled carrier through structural reforms, expansion of its fleet, and enhancement of customer services. By acquiring full ownership, the consortium intends to streamline decision-making and execute its revival strategy more effectively.
Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, stated that management control is expected to shift by late April or early May. He noted that operating without government-nominated board members would allow the airline to function entirely as a private enterprise.
The federal government has granted the investors a 90-day period to acquire the outstanding shares, estimated at around Rs45 billion, with the deadline falling at the end of April. Under the agreement signed in January, the consortium has up to 12 months to complete the payment process.
The investor group comprises Fatima Fertilizer (34.1pc), Fauji Fertilizer Company (33.9pc), Lake City Holdings (16pc), and The City School along with AKD Group (16pc). With financial backing of Rs125 billion, the new leadership plans to introduce reforms and mobilise additional capital to reposition the airline’s brand.
Established in 1955, PIA was converted into a public limited company in 2016 under the Pakistan International Airlines (Conversion) Act. After receiving clearance from the Securities and Exchange Commission of Pakistan in May 2024, the airline was delisted from the stock exchange and made a wholly owned subsidiary of PIA Holding Company Limited, which was created in March 2024 to manage the privatisation process.