PIA enters new era as Arif Habib Consortium takes full ownership of Pakistan national carrier
New leadership sets focus on growth, modernisation and global aviation standards
ISLAMABAD – Pakistan International Airlines (PIA) has officially entered a new phase of its aviation journey as ownership transitions to PIA Equity Ltd, a special purpose vehicle of the Arif Habib Consortium.
The move marks a major milestone in the national carrier’s history, following the completion of a comprehensive privatisation process aimed at strengthening operations and rebuilding the airline’s position in global aviation.
The transition comes after securing all required local and international regulatory approvals, including clearances linked to global lenders and tax concessions. With the handover completed, management control of the airline has moved to a consortium comprising some of Pakistan’s leading corporate groups and institutions.
PIA ownership
PIA Equity Ltd, led by Arif Habib Corporation Limited, has secured 100% private ownership of the airline through a transaction valued at approximately Rs180 billion. The consortium includes Arif Habib Group, Fatima Fertilizer Company Limited, Fauji Fertilizer Company Limited, Lake City Holdings (Pvt) Ltd, The City School (Pvt) Ltd and AKD Group Holdings.
Under the structure of the deal, Rs55 billion represents direct divestment proceeds for the Government of Pakistan, while Rs125 billion will be injected into PIA as fresh equity. The investment is designed to support operational restructuring, fleet renewal, route expansion and improvements across passenger services.
Growth plans
The new ownership model is expected to provide a more agile corporate framework, reducing administrative hurdles and enabling faster decision-making as PIA prepares for its next stage of development.
The Chairman of the new ownership group said the airline’s responsibility towards passengers and the people of Pakistan remains central despite the change in corporate structure.
“Trust is earned, mile by mile, smile by smile, year by year,” he said, adding that the new management accepts the responsibility of rebuilding confidence in the national carrier.
He further said PIA would continue to honour its heritage while working towards delivering a modern aviation experience aligned with international standards.
With legacy liabilities managed and operating rights transferred, the incoming management takes charge with plans to enhance service quality, strengthen operational performance and position PIA as a competitive global airline.
The new ownership has been fully capitalised to support the carrier’s transformation, with priorities including improved passenger experience, expanded connectivity and long-term operational growth.