24/12/2025
So which company is the beneficiarer …????
In December 2025, a consortium led by the Arif Habib Group emerged as the successful bidder for a 75% stake in Pakistan International Airlines (PIA), offering Rs 135 billion ($482 million).
The members of the winning Arif Habib consortium include:
Arif Habib Corporation Limited (AHCL): The lead member and diversified investment holding company.
AKD Group Holdings (Private) Limited: Joined the consortium in November 2025 to strengthen the bid.
Fatima Fertilizer Company Limited: A major industrial player owned by the Mukhtar family.
The City School (Private) Limited: A leading educational network owned by the Firoz family.
Lake City Holdings (Private) Limited: A real estate development firm led by Gohar Ejaz.
Fauji Fertilizer Company (FFC): Officially joined the consortium during the final bidding phase in December 2025 after previously being an independent pre-qualified bidder.
Key Deal Details (as of December 2025)
Ownership Structure: The consortium will hold 75% of the airline, while the Government of Pakistan retains 25%.
Payment & Investment: The government will receive approximately Rs 10 billion in cash upfront. The remaining amount from the Rs 135 billion bid, along with an additional commitment of Rs 80 billion, will be invested back into PIA over the next five years to modernize the fleet and operations.
Competition: The consortium beat out a second-highest bid of Rs 134 billion from a consortium led by Lucky Cement.