The Arif Habib Consortium officially closed the deal to become the sole owner of Pakistan International Airlines (PIA). By depositing the final Rs 45 billion, the group met its April 28 deadline, securing the remaining 25% stake and ending decades of state-run operations.
The journey to this 100% ownership began back in December 2025 with a massive Rs 135 billion bid for a controlling 75% share. Now, with the final payment supported by a standby letter of credit and bank guarantees, the transition is complete. The sheer scale of the Arif Habib PIA acquisition signals a massive shift for Pakistan aviation news.
The powerhouse behind this move includes:
- Arif Habib Corporation & Fatima Fertilizer
- Fauji Fertilizer Company (FFC)
- AKD Group, Lake City Holdings, and The City School
To ensure a smooth “clean break,” the federal government just cleared Rs 5.98 billion to settle employee dues. This leaves only one technical hurdle: the FBR No Objection Certificate (NOC) for the aircraft fleet. Arif Habib is already pushing the Privatization Commission to fast-track this so the keys can change hands by late May 2026.
The consortium plans to pump over Rs 125 billion into the airline. The primary goal is to double the fleet and finally restore those much-needed direct flights to Europe and the UK. For the PIA privatization update, this isn’t just a sale—it’s a total reboot aimed at ending the cycle of state-funded bailouts.
