Pakistan International Airlines (PIA) has been privatized, with the Arif Habib Consortium acquiring a 75% stake for Rs135 billion. Between 2015 and 2024, the national carrier incurred cumulative losses of Rs500 billion, averaging Rs4.1 billion per month, highlighting longstanding operational and financial challenges.
The privatization deal was structured to include Rs10 billion in immediate cash, Rs45 billion in equity, and a planned Rs125 billion reinvestment to modernize the airline and support future operations.
Officials acknowledged the difficulty in finding a buyer willing to assume PIA’s heavy losses but emphasized that the sale is aimed at revitalizing the airline, improving efficiency, and securing its long-term sustainability.
