Pakistan International Airlines (PIA) is heading to the Pakistan Stock Exchange (PSX). The airline’s new private owners intend to list the carrier within one year of taking operational control. This move marks a significant shift in the airline’s post-privatisation roadmap.
The incoming management will float 5% to 10% of PIA’s shares through an Initial Public Offering (IPO). Currently, a consortium led by Arif Habib Corporation Limited (AHCL) stands as the Highest Ranked Bidder. They offered Rs. 135 billion for a 75% equity stake in Pakistan International Airlines Corporation Limited (PIACL).
Key investors are already behind this move. Aqeel Karim Dhedhi, Chairman of AKD Group, holds a 16% stake in the consortium. This successful bid sets the stage for a major market debut in the coming months.
The new owners have outlined a clear plan to restore profitability. They aim to reclaim the market share lost over the previous years. Consequently, the revival of direct international routes remains a top priority.
At present, many Pakistani travellers rely on transit hubs in Qatar, the United Arab Emirates, Saudi Arabia, and Turkey. Management plans to change this. By reintroducing direct long-haul connectivity, they hope to recapture outbound passenger traffic. This strategy will strengthen PIA’s competitive position against regional rivals.
The government is also accelerating its wider reform agenda. Through the Privatization Commission, officials are exploring partnerships for the redevelopment of the Roosevelt Hotel in New York. Additionally, plans to privatise power distribution companies are moving forward.
The proposed PIA IPO serves as a critical test case. It will measure investor appetite for newly privatised state-owned enterprises in Pakistan. If executed within the stated timeline, this restructuring will mark a historic milestone for the nation’s aviation sector.
