PIA Holding Company approves 75% divestment of PIACL

Shareholders of PIA Holding Company Limited (PIAHCL) have approved the divestment of 75% of Pakistan International Airlines Corporation Limited (PIACL) through a combination of share transfer and dilution of ownership, according to a filing by the company at the Pakistan Stock Exchange (PSX) on Monday. 

The approval was granted during an extraordinary general meeting held on April 6, 2026, authorising the transaction under Section 183(3) of the relevant law.

Under the approved structure, the majority stake will be transferred partly through the sale of existing shares and partly through the issuance of new shares to PIA Equity Limited, resulting in dilution of the company’s holding.

The resolution also provides for a potential future transfer of the remaining 25% stake, subject to the exercise of a call option by PIA Equity Limited under the Share Purchase and Subscription Agreement. If exercised and conditions are met, the residual shareholding will be transferred accordingly.

Shareholders further authorised the company’s chief executive officer and company secretary to finalise and execute all necessary agreements and documents, and to take required actions to complete the transaction.