ISLAMABAD: The new owners of Pakistan International Airlines (PIA) plan to take the national carrier public within a year of assuming operations, Bloomberg reported. Aqeel Karim Dhedhi, chairman of AKD Group, which holds a 16% stake in the consortium that purchased 75% of PIA for Rs135 billion, said the airline intends to list 5%-10% of its shares.
Dhedhi highlighted plans to reclaim market share by offering direct flights from Pakistan, reducing dependence on transit connections via Qatar, Abu Dhabi, Saudi Arabia, and Turkey. âPassengers who can fly directly will no longer prefer transit flights,â he added.
The consortium, led by Arif Habib, is set to take control in April 2026. The privatization marks one of Pakistanâs most significant sales of a state-owned enterprise in years, as the government seeks to offload loss-making entities draining the national treasury.
Arif Habib previously outlined a revival roadmap for PIA, stating that the airlineâs entire fleet of 34 aircraft would be operational by September 2026. He attributed PIAâs financial troubles to years of accumulating debt, annual government loan guarantees, and rising interest obligations.
Under the new structure, the government retains a 25% stake, while the private consortium holds 75% of management control.
