Leading businessman Arif Habib has said that Pakistan International Airlines (PIA) can become a profitable enterprise within its first year after privatization, citing improved management, fleet expansion, and a stronger focus on commercially viable routes.
Speaking about the consortium’s plans for the national carrier, Habib said PIA currently operates a fleet of 19 aircraft, which is expected to expand to 60 aircraft over the next five years, significantly increasing operational capacity. He added that several grounded aircraft will be repaired and returned to service, while additional aircraft are also expected to join the fleet in the current year.
He said the expansion would be supported by increased staffing levels and a renewed focus on profitable domestic and international routes. According to him, the consortium also plans to modernize PIA’s engineering and maintenance facilities in Karachi to improve operational efficiency.
Habib further stated that payment for 66% of PIA shares has already been completed, while the remaining 34% will be paid within one year under the privatization agreement. He also assured that no layoffs will take place during the first year after privatization.
Recruitment for senior management positions is currently underway and is expected to be completed within the next one to one-and-a-half months as part of the airline’s restructuring process.
The privatization of PIA represents one of Pakistan’s most significant state-owned enterprise reforms in recent years, with the new ownership aiming to restore profitability after years of financial losses and operational challenges.
Also read: PIA Officially Handed Over to New Owners
