Arif Habib welcomes Fauji Fertilizer as partner in PIA revival

KARACHI: Following the successful acquisition of Pakistan International Airlines (PIA), the Arif Habib Consortium has confirmed the inclusion of Fauji Fertilizer Company as a partner in the deal, ARY News reported.

Speaking about the partnership, representatives of the Arif Habib Group welcomed Fauji Fertilizer’s participation, emphasizing the positive impact it would bring to the airline’s revival.

The consortium plans to invest Rs125 billion in PIA over the next year, aiming to modernize operations and expand the airline’s fleet from 18 to 62 aircraft. Arif Habib officials also highlighted plans to provide PIA employees with better platforms and opportunities while ensuring enhanced travel facilities for passengers.

“Improving passenger experience and offering a strong operational platform for employees will be our top priorities,” said the Arif Habib Group. The partnership is expected to accelerate PIA’s restructuring and restore it as Pakistan’s flagship carrier.

Arif Habib Group Secures PIA In Landmark Auction

The Arif Habib Consortium has officially acquired Pakistan International Airlines (PIA), winning the privatisation bid with an offer of Rs135 billion.

The consortium purchased 75 percent of the national carrier’s shares, surpassing its closest competitor, the Lucky Consortium, whose final bid stood at Rs134 billion.

Officials said that under the terms of the deal, the government will receive Rs10.2 billion in cash immediately. This privatization marks the first major large-scale privatization in Pakistan in the last two decades and is expected to save taxpayers around Rs35 billion annually in subsidies and operational costs.

Arib Habib’s acquisition of PIA is part of the government’s ongoing economic reform agenda aimed at restructuring loss-making state-owned enterprises and improving operational efficiency. Analysts say the privatization is a significant milestone, signaling renewed confidence in Pakistan’s investment climate.

Last year, a separate attempt to privatize PIA saw the government set a minimum price of $305 million for a 60 percent stake, but the only bid received was $36 million from real estate developer Blue World City, which later withdrew due to financial concerns and the airline’s operational challenges.

With the bidding now complete, the Arif Habib Group is poised to lead PIA’s revival, marking a significant step in Pakistan’s privatization drive and signaling renewed hope for the national airline.