KARACHI: The privatization of Pakistan International Airlines (PIA) has marked major progress, with the Arif Habib Consortium now securing 100 percent shares of the national carrier, according to a spokesperson for the PIA Consortium.
According to reports gathered by MM News, the Arif Habib Consortium has exercised its option to purchase the remaining 25 percent shares of PIA. This follows its earlier acquisition of 75 percent shares in the airline. With this latest transaction, the consortium now holds 100 percent ownership of PIA.
As part of the agreement, the consortium has deposited money for the additional 25 percent shares. A bank guarantee of Rs 45 billion was also submitted under the terms of the deal, the spokesperson confirmed.
– Timeline for Handover: The Arif Habib Consortium is expected to take full operational control of PIA in May 2026.
Consortium Composition
The spokesperson detailed that the Arif Habib Consortium comprises several major corporate entities:
– Fauji Fertilizers
– Lake City
– Fatima Group
– Arif Habib Limited
– City School
– AKD Group
Background
The government had previously given the consortium an option to purchase 25 percent shares of PIA, in addition to the 75 percent stake it already held. With the option now exercised and financial obligations met, the privatization process has reached its final phase.
The acquisition marks one of the most significant privatizations in Pakistan’s aviation sector, ending decades of state ownership of the national flag carrier.
