PIA set for IPO within a year of takeover: report

The new owners of Pakistan International Airlines (PIA) plan to go for an IPO within a year of taking over operations, reported Bloomberg.

According to the report, PIA owners plan to list 5%-10% of the carrier, Aqeel Karim Dhedhi, chairman at AKD Group, told the international media outlet.

Dhedhi, who has a 11% stake in the consortium that purchased a 75% stake in the national flag carrier for Rs135 billion, shared that PIA aims to reclaim its market share by offering direct flights.

“There are no direct flights from Pakistan and currently passengers are taking transit flights from airlines based in Qatar, Abu Dhabi, Saudi Arabia and Turkey,” he said. “We will take our business back from these airlines. Passengers who can have a direct flight would never want to take a transit flight.”

Pakistan govt may approach IMF to reduce rate of taxes on businesses, Arif Habib says

Earlier, Business Recorder reported that the consortium, led by Arif Habib, will assume control in April 2026.

The PIA privatisation marked Pakistan’s most significant sale of a state-owned enterprise in years, as the cash-strapped government moved to shed loss-making entities that have drained the national treasury.

Last month, Arif Habib outlined his roadmap for reviving PIA, informing that the airline’s entire fleet of 34 aircraft would be serviceable by September 2026.

“PIA’s problems had been building for years,” Habib explained.

“The airline accumulated massive debts as successive governments provided annual loan guarantees, allowing borrowing to spiral out of control. Heavy interest payments compounded the problem, creating a cycle of increasing liabilities.”

PIA is now operating under a new ownership structure in which the government retains a 25% stake, while 75% management authority lies with the private sector consortium led by Arif Habib Group, which has acquired operational control.