Islamabad: The race to revive Pakistan International Airlines (PIA) has entered a crucial stage, with all four shortlisted investor groups set to begin on-site due diligence at the airline’s Karachi headquarters next week. This marks a significant milestone in the federal government’s plan to privatize the struggling national carrier.
According to officials familiar with the matter, representatives from the four consortiums will receive detailed briefings covering PIA’s operational and financial realities—ranging from fleet size and staffing to route networks and revenue challenges. The sessions aim to provide a transparent, data-backed picture of the airline’s current standing.
The PIA management has been instructed to fully cooperate, present official documentation, and be ready to address investors’ queries. This phase will allow the shortlisted bidders to evaluate risks, liabilities, and the airline’s growth potential before final bids are submitted.
On July 8, the Privatization Commission pre-qualified four serious contenders: two consortia—one featuring Lucky Cement, Hub Power Holdings, Kohat Cement, and Metro Ventures; the other made up of Arif Habib Corporation, Fatima Fertilizer, City Schools, and Lake City Holdings. The remaining individual bidders are Fauji Fertilizer Company and Air Blue (Pvt.) Ltd.
The government sees the privatization of PIA as part of a larger economic reform agenda aimed at cutting state-owned enterprise losses, increasing efficiency, and attracting private-sector investment. Officials believe a successful sale could breathe new life into Pakistan’s aviation sector, bringing in capital, expertise, and much-needed reforms.
If completed smoothly, the deal could pave the way for a new era at PIA—one driven by private management, accountability, and commercial viability.
