Arif Habib-led consortium has completed acquisition of all shares in Pakistan International Airlines (PIA), concluding the privatisation process of the federal government for the national carrier.
The consortium deposited payment for the remaining 25 percent shares and submitted a Rs45 billion bank guarantee in line with agreed transaction conditions, according to a spokesman.
Officials said the group had already acquired a 75 percent majority stake in December 2025 after submitting the highest successful bid during the competitive auction.
Background of the Privatisation Process
The government initiated the privatisation of PIA as part of broader economic reforms aimed at reducing state ownership in loss-making public sector enterprises.
Three bidders participated in the initial stage, including consortia led by Arif Habib, Lucky Cement, and private airline Airblue, according to details released during bidding.
In the first round, Arif Habib consortium offered Rs115 billion, Lucky Cement consortium submitted Rs101.5 billion, while Airblue placed a bid of Rs26.5 billion.
Final Bidding and Majority Stake Sale
Following the initial round of the historic auction, two bidders advanced to the final stage, where the Arif Habib-led consortium increased its offer to Rs135 billion.
The higher bid secured the consortium a 75 percent stake in Pakistan International Airlines on December 24, 2025, marking a key milestone in the process.
Officials confirmed the agreement included an option allowing the consortium to purchase the remaining 25 percent shares at a later stage.
Completion of Transaction and Takeover Timeline
The consortium exercised its option to acquire the remaining shares, completing the transaction and securing full ownership of PIA, according to officials familiar with developments.
The group is expected to formally assume operational control in May after completing all regulatory, financial, and administrative requirements linked to the agreement.
