Arif Habib led group now owns 75% of the Pakistan International Airlines
PIA is switching hands from the government to a private company. The deal closed after a lot of back and forth. This is a big deal for Pakistani airlines and shows the government is serious about fixing things up.
PIA hasn’t been doing great. It’s been losing money, has old planes, and just hasn’t been able to keep up. By selling off most of the airline for Rs. 135 billion, the government is saving money and proving they’re ready to make some tough .
It tells other countries and companies that Pakistan is trying to get its act together when it comes to businesses that are losing money.
Pakistani companies Calling the Shots Now
The airline is now run by a mix of Pakistani companies. Arif Habib Corporation and Fatima Fertilizer Limited together own 25%. Fauji Fertilizer Company Limited has another 25%. The last 25% is split between AKD Group, City Schools, and Lake City Holdings.
These companies bring money smarts and good management to the table, which PIA has been missing.
The new owners want to fix things, starting with getting more planes. They want to jump from 18 to 38 so they can fly to more places, stick to their schedules, and offer better service.
Besides better planes, they want to bring in pros to run things, fix the current systems and get people to trust PIA again for both local and international flights.
PIA employees is a big question
The new owners can’t fire anyone for a year. After that, they’ll look at how everyone’s doing and keep the best people based on their skills.
It’s a mix of protecting workers while still trying to make the airline run well, which is what it needs to last.
If PIA gets back on its feet, it could be great for Pakistan’s air travel scene. A solid airline would boost travel and make Pakistan look good to the rest of the world.
Plus, this could push other struggling government-owned companies to get private investment.
It won’t be easy, but handing PIA over to a private group gives it a chance. If the new owners do what they say—make changes, put money in, and run things better—PIA might just make a comeback.
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