Pakistan International Airlines (PIA) is set to enter a new era. The national flag carrier will be fully handed over to its new private owners by the end of June 2026. This completes the long-awaited privatisation process.
Prime Minister’s Adviser on Privatisation Muhammad Ali confirmed the news. He said all local and international regulatory approvals have now been completed. The handover was delayed for several months after the bidding in December 2025 due to global regulatory requirements.
An Arif Habib-led consortium won the bid for a 75% stake in PIA for Rs135 billion (about $482 million). The group includes companies like Fatima Fertilizer and others. The new owners plan to bring fresh investment, expand the fleet, improve services, and make the airline profitable again.
PIA has been running at heavy losses for years. The government hopes privatisation will bring efficiency, better management, and an end to political interference. The new owners have also shown interest in buying the remaining government stake later and plan an IPO within a year.
This move is part of Pakistan’s broader economic reforms under the IMF programme. Many people see it as a positive step for the airline’s revival. Passengers and employees are hopeful that PIA will regain its past glory with improved punctuality, safety, and customer service under private ownership.
