Under this deal, the government received around Rs10.2 billion in cash, while the remaining amount will be reinvested directly into PIA to help upgrade and restructure the struggling airline. The goal is simple: to bring PIA back to life after years of financial losses and operational challenges.

What This Means for PIA

The privatization deal is expected to kick-start a major transformation. The new owners have committed to modernizing PIA through better management, improved services, and a stronger fleet.

Here’s a quick breakdown of the key highlights:

Who Bought PIA?

A consortium led by Arif Habib Corp, joined by:

• Fatima Fertilizer

• City Schools

• Lake City Holdings

Size of the Stake

• 75% ownership of PIA acquired.

Total Deal Value

• Rs135 billion (approximately $482 million USD).

Government’s Share

• Around Rs10.2 billion received in cash.

• The rest of the funds will be reinvested into PIA for upgrades and improvements.

Future Investment

The consortium plans to invest $400 million (Rs80 billion) over the next five years to:

• Expand and modernize the fleet

• Improve operations and customer service

• Reduce PIA’s heavy debt burden

Why This Matters

This is Pakistan’s second major attempt to privatize PIA. With strong private-sector leadership and fresh investment, there is renewed hope that the national airline can finally become profitable and regain its reputation.

If successful, this deal could reshape Pakistan’s aviation industry and set PIA on a new path toward stability, efficiency, and growth.

The post Arif Habib Group Secures 75% Stake in PIA — A Major Step Toward Reviving the National Airline appeared first on FMN.