Pakistan International Airlines (PIA) has been sold to a consortium of investors led by Arif Habib Limited, a securities brokerage house based in Karachi, with the participation of industrial group Fatima Fertilizer and AKD Group, a local conglomerate.
The Pakistani government had put the flag carrier up for sale after several years of massive losses. The sale was conducted through an auction process that saw several competing bids, with the winning consortium offering 135 billion Pakistani Rupees (US$482 million) for 75% of the airline. The national carrier was one of the state-owned companies urged by the International Monetary Fund (IMF) to divest as part of efforts to stabilize the economy.
Under the terms of the bid, the Pakistani government will receive approximately 10 billion Pakistani Rupees in cash, with the rest injected into the airline to facilitate restructuring. The new owners are expected to take full control of the airline from April 2026, with options to acquire the remaining 25% within a few months. Several Pakistani companies, including Lucky Cement and airblue, participated in the bidding process.
The airline faces ongoing operational challenges and efforts to restore trust after a ban from European airspace in 2020 due to safety concerns. The ban was lifted in December 2024 by the European Aviation Safety Agency (EASA), after investigations revealed improvements. Additionally, British aviation authorities took nearly ten months to lift a separate five-year ban, allowing PIA to reinstate flights to the UK, a key international market.
As of December 2025, PIA operates a fleet of 19 aircraft, including 11 Airbus A320 family, two ATR 42 turboprops, and six Boeing B777s, in different variants. The airline continues to recover amid financial and operational challenges, aiming to restore its reputation and international connectivity.
