Pakistan International Airlines — PIA — after more than a decade of delays, political resistance, and failed attempts, has finally been privatised.
In a rare fully transparent, live-broadcast open auction, Arif Habib Consortium acquired 75% stake in PIA for Rs 135 billion, edging out Lucky Cement Consortium in an intense bidding war that tested nerves, strategy, and valuation discipline.
But this deal is far bigger than just a sale price.
In this video, we break down:
How the sealed bids and open auction unfolded
Why Lucky Cement exited at Rs 134 billion
The strategic importance of Fauji Foundation’s withdrawal
How government cleaned PIA’s balance sheet by absorbing Rs 650+ billion in bad debt
What assets, liabilities, and obligations the new owner actually inherits
And whether PIA’s operational turnaround is real or temporary
With 97 air service agreements, landing rights in 170+ countries, and recent signs of operational profitability, PIA could be a strategic goldmine — but legacy inefficiencies, reputation damage, and workforce challenges remain massive hurdles.
This is not just an airline deal.
This is a make-or-break moment for Pakistan’s aviation sector.
The real question isn’t whether PIA was sold —
The question is:
Can the new owners finally make PIA fly?
