Pakistan International Arlines (PIA) : News / Updates

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Viscount 815
Wonderful 1960’s pic from the COX FAMILY album. FROM ANDREW GARFATH-COX: Pindi Airport.
 
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PIA privatisation: management control likely by May 25​


BR Web Desk
May 4, 2026

The consortium led by Arif Habib Corporation has notified the Privatisation Commission to acquire the remaining 25% stake in Pakistan International Airlines, with management control of the national carrier expected to be transferred by May 25, 2026.

In a notice to the Pakistan Stock Exchange on Monday, the airline said the consortium notified the Privatisation Commission of its intent to acquire the remaining equity stake in Pakistan International Airlines Corporation Limited (PIACL), paving the way for full private-sector ownership of the national carrier.

“The management control is expected to be transferred on or before May 25, 2026, the ‘first closing date’ announced by the Privatisation Commission, subject to the fulfilment of conditions precedent set out in the Share Purchase and Subscription Agreement (SPSA) signed on January 29, 2026,” read the notice.
 
The total investment in the transaction is estimated at around Rs180 billion. This includes a minimum of Rs55 billion payable to the Government of Pakistan as divestment proceeds, and Rs125 billion to be injected as fresh equity into PIACL to support the airline’s recapitalisation.

“The planned equity injection will support fleet expansion and modernisation, route development, and improvements in customer service and operational systems,” read the notice.

The consortium comprises Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, Lake City Holdings (Pvt) Limited, The City School (Pvt) Limited, AKD Group Holdings (Pvt) Limited and Fauji Fertilizer Company Limited.

Last week, Aqeel Karim Dhedhi, the founding chairman of AKD Group, informed that the Arif Habib consortium acquired the remaining 25% shareholding in the PIA from the government, elevating the private sector ownership in the national carrier to 100% to increase the fleet size to 50 aircraft by September 2026.
 

PC board grants approvals for first closing of PIA privatisation transaction​

Pakistan's Privatisation Commission Board has approved crucial steps for the first closing of the Pakistan International Airlines (PIA) privatisation, moving the landmark transaction forward.

May 20, 2026
By BR Web Desk

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The Privatisation Commission (PC) Board on Wednesday granted the necessary approvals to facilitate the materialisation of the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL), according to a statement issued by the Ministry of Privatisation.

The 252nd meeting of the board was chaired by Muhammad Ali, where members reviewed progress on the transaction’s first closing.

During the meeting, the financial adviser briefed the board on progress toward fulfilment of the conditions precedent outlined in the Share Purchase and Subscription Agreement (SPSA), including key regulatory, financial and transactional requirements necessary for completion of the first closing.
 
61st Death Anniversary of PK 705 passengers

including this air hostess Mumi Gul Durrani who was Musician Sohail Rana wife's sister.

On May 20, 1965, Pakistan International Airlines Flight 705 crashed and exploded in the Egyptian desert while descending to land at Cairo International Airport.

Operating as an inaugural service from Karachi to London, the Boeing 720 carried 127 passengers and crew, but 121 people died while only six passengers survived.

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