PIA is set for a major transformation as its new owners unveil plans to improve the national carrier’s operations, expand the fleet, and enhance passenger experience.
On December 23, a Pakistani consortium led by the Arif Habib Group acquired a 75 percent stake in PIA for Rs135 billion ($482 million), valuing the airline at Rs180 billion ($643 million).
This privatization marks one of Pakistan’s most ambitious efforts to revive the struggling airline after years of financial losses totaling over $2.8 billion.
Once regarded as one of Asia’s leading airlines, PIA faced challenges including political interference, overstaffing, operational inefficiencies, and rising debt. In 2020, a pilot licensing scandal led to flight bans from the European Union, the UK, and the US. Although the EU and UK have lifted these bans, the airline continues to recover from years of decline.
The Arif Habib Group has outlined a clear revival strategy aimed at restoring PIA’s reputation and operational efficiency.
Plans include refurbishing aircraft cabins, upgrading seats, modernizing in-flight entertainment systems, and improving check-in counters and maintenance procedures. The group also intends to expand the fleet with new planes and ensure timely flight schedules to enhance reliability.
Arif Habib, CEO of the consortium, stated that these steps are designed to offer passengers a modern, comfortable, and safe flying experience while strengthening the airline’s long-term financial stability.
Experts believe that the privatization and planned upgrades could help PIA regain its former status and make it a competitive player in regional and international aviation markets once again.
American Dollar Exchange Rate