Arif Habib Consortium Moves to Fully Acquire PIA

Arif Habib-led consortium moves to acquire remaining 25% PIA stake, aiming for full ownership and investing Rs180 billion in airline revival.

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A consortium led by Arif Habib Corporation Limited has formally notified the Privatisation Commission of its intent to acquire the remaining 25 per cent stake in Pakistan International Airlines Corporation Limited (PIACL), moving toward full private ownership of the national carrier.

The transaction is expected to bring total private-sector investment to approximately Rs180 billion. This includes at least Rs55 billion payable to the government as divestment proceeds and Rs125 billion in fresh equity to support the airline’s financial restructuring.

Officials stated that the planned investment will enable fleet modernisation, expansion of routes, and improvements in customer service and operational systems. Management control is expected to transfer by May 25, subject to conditions outlined in the Share Purchase and Subscription Agreement signed earlier this year.

The consortium, which previously acquired a 75 per cent stake in December 2025, includes major corporate players such as Fatima Fertiliser, Lake City Holdings, and Fauji Fertiliser.

The development marks a significant milestone in Pakistan’s privatisation efforts, aiming to revitalise the national airline through private-sector efficiency and investment.