PIA to Become Profitable in First Year After Privatization, Claims Arif Habib
KARACHI: Prominent Pakistani businessman Arif Habib has expressed confidence that Pakistan International Airlines (PIA) will become a profitable organization within its first year following privatization.
Speaking in an exclusive interview, Habib said the airline would operate only on commercially viable routes, adding that no route would be maintained on a subsidy or donation basis.
He revealed that payment for 66 percent of the agreed shareholding has already been completed, while the remaining 34 percent will be paid within one year. Under the terms of the agreement, no employee will be laid off during the first year after the acquisition.
Habib also stated that recruitment for senior management positions is currently underway and is expected to be completed within the next one to one-and-a-half months.
Discussing the airline’s expansion plans, he said PIA currently has a fleet of 19 aircraft, which the consortium aims to increase to 60 aircraft over the next five years. He added that the workforce would also be expanded in line with the growing fleet.
According to Habib, four to five aircraft currently grounded will be restored to service after maintenance, with efforts underway to make them operational as quickly as possible.
He further announced that, in addition to the restored aircraft, five new aircraft will be inducted into the fleet this year, with another five aircraft planned to be added annually.
Habib emphasized that significant investment would also be made in PIA’s engineering facilities in Karachi to strengthen maintenance capabilities and improve operational efficiency.
The Arif Habib-led consortium recently acquired PIA and has pledged to transform the national carrier into a profitable and sustainable airline through operational reforms, fleet expansion, and strategic investment.
