Arif Habib Group Acquires PIA for PKR 135 Billion

arif habib group, PIA privatization

ISLAMABAD (RNN TV) — The Arif Habib Group consortium has successfully acquired Pakistan International Airlines (PIA) for PKR 135 billion, a key step in the government’s ongoing privatisation efforts.

Privatization Commission Adviser Muhammad Ali emphasised that the government’s aim goes beyond merely selling PIA. “Our focus is to revive the airline, strengthen its operations, and attract strategic investment into the country,” he said.

Today, 75% of PIA’s shares were offered for bidding, with 92.5% of the proceeds earmarked for upgrading the airline. The payment structure will be split into two parts: two-thirds upfront and the remaining one-third at a later stage. Bidders are also permitted to include partners after the bidding process.

In the first stage of bidding, Lucky Consortium offered PKR 101.5 billion, while AirBlue bid PKR 26.5 billion. Arif Habib Group led with PKR 115 billion. During the second stage, Lucky Consortium raised its bid to PKR 120.25 billion, but Arif Habib Group topped it once again with PKR 121 billion, ultimately securing ownership of the national carrier.

This acquisition marks a major milestone in PIA’s privatization journey and signals renewed hopes for the airline to regain its former stature in the aviation sector.