The privatisation of Pakistan International Airlines has entered its final phase, with the Privatisation Commission receiving a formal request from the Arif Habib-led consortium for full acquisition.
The Privatisation Commission said that the process for 100 per cent privatisation is now being cleared, following the consortium’s notice of intent to acquire the remaining 25 per cent equity stake in Pakistan International Airlines Corporation Limited.
According to officials, administrative control is expected to be transferred on or before May 25, subject to the fulfilment of conditions outlined in the Share Purchase and Subscription Agreement signed on January 29.
Under the agreement, the airline will be handed over entirely to the private sector once all stipulated conditions are met.
The total investment in the privatisation deal is estimated at approximately Rs180 billion, the Privatisation Commission said. This includes at least Rs55 billion to be paid to the Government of Pakistan as divestment proceeds.
A further Rs125 billion will be injected as fresh equity into the airline to support recapitalisation efforts. Officials said the new investment is set to improve the fleet, enhance services and expand routes.
The Arif Habib-led consortium includes Fatima Fertilizer Company Limited, Fauji Fertilizer Company Limited and other major business groups.
