Pakistan targets April for handover of PIA

Arif Habib-led consortium wins first major privatisation in nearly two decades

- DUBAI Gulf News Report

Pakistan expects private management to take charge of Pakistan International Airlines (PIA) by April 2026 after a consortium led by Arif Habib Corporation won a 75 per cent stake in a competitive auction, advancing efforts to reduce losses at state-owned firms.

The group bid Rs135 billion ($482 million), exceeding the government’s Rs100 billion reserve price and valuing the airline at about Rs180 billion including the state's remaining 25 per cent holding.

The winning consortium includes Fatima, City Schools and Lake City Holdings, with space for as many as two additional partners that meet eligibility criteria, including a foreign airline.