Overview
- The Arif Habib–led consortium, which notified the Privatisation Commission on Thursday of its plan to buy the remaining 25% stake, moved the airline toward full private ownership.
- The Competition Commission of Pakistan authorized the acquisition after a Phase-I review, saying the deal raises no competition concerns.
- Management control is slated to transfer on or before May 25, subject to contract conditions and sign-offs from the relevant regulators.
- The buyers formed a special-purpose company in January and plan about Rs180 billion in total investment, including Rs55 billion to the government and Rs125 billion as fresh equity for PIA.
- Regulators noted PIA’s falling market share and strong rivalry from Gulf carriers and several domestic airlines, signaling that consumer choice should hold up even as the new owners face a tough turnaround.