Pakistan International Airlines is moving towards a new chapter, with fresh owners preparing to bring it to the stock market within a year, according to a report by Bloomberg.
The plan involves listing PIA on the Pakistan Stock Exchange after the new management takes full operational control. Around 5 percent to 10 percent of the airline’s shares are expected to be offered to the public through an initial public offering.
New owners outline recovery plan
A consortium led by Arif Habib Corporation Limited has emerged as the highest ranked bidder for Pakistan International Airlines Corporation Limited, offering Rs135 billion for a 75 percent stake. Among the key investors is Aqeel Karim Dhedhi, chairman of AKD Group, who holds a 16 percent share in the consortium.
The incoming management has set out a clear plan to bring the airline back to profit and regain lost market share. For years, many travellers from Pakistan have relied on foreign transit hubs, especially airlines operating from Qatar, the United Arab Emirates, Saudi Arabia and Turkey. The new strategy focuses on restoring direct long haul routes so passengers can fly without stopovers. This move is expected to attract more outbound travellers and strengthen the airline’s position in the region.
Wider privatisation push continues
The government’s broader privatisation drive is also moving forward. Through the Privatization Commission, officials are exploring partnerships for redeveloping the Roosevelt Hotel in New York. Plans to privatise power distribution companies are also being advanced as part of wider economic reforms.
If the proposed share sale goes ahead within the planned timeframe, it would mark a major milestone in the airline’s restructuring journey. The listing is also expected to test investor interest in newly privatised state owned companies in Pakistan and could shape future privatisation efforts.
