The End of an Era: PIA Privatization Complete
In a landmark event this week, the privatization of Pakistan International Airlines (PIA) reached its final stage.
- Consortium Takeover: A private consortium led by the Arif Habib Group and including the AKD Group has assumed control of 75% of PIA for Rs. 135 billion.
- Total Control: News emerged today (Feb 15) that the consortium intends to acquire the remaining 25% government stake for an additional Rs. 45 billion by May to ensure full operational freedom.
- New Fleet Goals: The new management aims to have PIA’s entire fleet of 34 aircraft fully operational by September 2026, with plans for an Initial Public Offering (IPO) on the Stock Exchange within a year.
2. New Player: “Air Karachi” Launching Soon
The Pakistan Airports Authority (PAA) has finalized preparations for two new local airlines to enter the market.
- Air Karachi: Set to begin domestic operations on March 23, 2026 (Pakistan Day), the airline has already finalized its aircraft leasing. It will initially connect major hubs like Karachi, Lahore, Islamabad, and Multan.
- Cargo Boom: Logistics giant TCS is also entering the fray, acquiring a Boeing 747-400 dedicated exclusively to cargo operations to rival foreign carriers.