Pakistan has completed the privatization process of its national airline, PIA (Pakistan International Airlines). Following a multi-stage and competitive tender process, 75% of PIA’s shares were sold for 135 billion Pakistani rupees.
The Arif Habib Consortium, based in Pakistan, submitted the highest bid and acquired the 75% stake in PIA. The Lucky Consortium, which finished second in the bidding process, offered 134 billion Pakistani rupees.
The Pakistani government announced that 92.5% of the proceeds from the privatization will be used to improve PIA’s operational structure. This includes strengthening the fleet, increasing operational efficiency, and ensuring the long-term financial sustainability of the airline.
