Summary Businessman Arif Habib announced a Rs125 billion investment plan to revive Pakistan International Airlines, expand its fleet and restore international routes, including US operations.
KARACHI (Dunya News) – Prominent businessman Arif Habib has announced a Rs125 billion investment to revive and modernise Pakistan International Airlines (PIA), outlining an ambitious plan to expand the national carrier's fleet, restore international operations and transform it into a competitive airline.
Speaking at an event in Karachi, Habib said the investment aims to rebuild PIA into a model national airline capable of competing in regional and international markets.
He said he had assured the Chief of Army Staff and Prime Minister Shehbaz Sharif that the airline would be restored to its former stature through sustained investment and professional management.
US flights expected to resume
Habib expressed optimism that PIA's flights to the United States would resume later this year, subject to the completion of the required regulatory and operational processes.
He also said that under the government's sale and purchase agreement, no PIA employee would be laid off during the first year following the transaction.
Fleet expansion plan
The businessman attributed PIA's decline to years of underinvestment, administrative inefficiencies and poor management, which he said had adversely affected the airline's international network.
He announced plans to induct five new aircraft every year, with the goal of increasing the number of operational aircraft to 60 within the next five years.
According to Habib, PIA currently operates 18 active aircraft, while another four to five aircraft in the existing fleet will be refurbished and returned to service.
Share acquisition
Habib further stated that payment for 66.66 percent of the airline's shares had been completed under the government's Sale and Purchase Agreement (SPA).
He added that the remaining 33 percent of the shares would be paid within one year, in accordance with the terms of the agreement.
The investment plan is expected to focus on fleet modernisation, operational efficiency and expanding PIA's international footprint as part of broader efforts to strengthen the country's national carrier.
