The federal government of Pakistan may opt to sell the reaming stake in the Pakistan International Airlines (PIA) as, after the transfer of management control to a private consortium, the government retains the option to sell its remaining 25 per cent shareholding within three months, valued at approximately Rs45 billion.
PIA officials said the airline is now operating under a new ownership structure, with the government holding a 25 per cent stake, while 75 per cent management control rests with a private-sector consortium led by the Arif Habib Group, which has assumed operational control.
Officials said that the airline’s current fleet consists of 18 aircraft, of which 12 are leased and six are owned by the company and undergoing necessary maintenance. They added that the existing fleet is insufficient for network expansion and that additional aircraft will be required urgently to improve services.
Addressing the airline’s balance sheet, PIA clarified that its legacy assets and liabilities have been separated and transferred to PIA Holding Company. As a result, the airline’s operational accounts have been cleared and are now focused on commercial operations. Management said this restructuring was essential to attract private investment and run the airline on a competitive basis.
Officials also clarified that the Roosevelt Hotel in New York and the Scribe Hotel in Paris, previously owned by PIA, were not included in the privatisation deal. These properties remain under government ownership within the PIA Holding Company’s portfolio, and a separate strategy is being pursued for their commercial future.
