Prominent businessman Arif Habib has announced a Rs 125 billion investment to modernise Pakistan International Airlines (PIA). The plan aims to expand the airline’s fleet and restore its international competitiveness.
Speaking at an event in Karachi, Habib said the investment would help rebuild PIA into a strong national carrier. Furthermore, he pledged sustained investment and professional management to improve airline operations.
Habib said he assured the Chief of Army Staff and Prime Minister Shehbaz Sharif of the airline’s revival. According to him, the goal is to restore PIA’s former position in regional and global markets.
Fleet Expansion and US Flight Plans
Habib expressed confidence that PIA could resume flights to the United States later this year. However, he said the restoration depends on completing all required regulatory and operational procedures.
He attributed the airline’s decline to years of underinvestment, poor management, and administrative inefficiencies. Therefore, the investment plan focuses on modernising the airline and expanding its international network.
Habib announced plans to induct five new aircraft every year. Consequently, PIA’s operational fleet is expected to reach 60 aircraft within five years.
He added that PIA currently operates 18 active aircraft. Additionally, four to five existing aircraft will undergo refurbishment before returning to service.
Share Acquisition and Employee Assurance
Habib said payment for 66.66 percent of PIA’s shares has been completed under the government’s Sale and Purchase Agreement. The remaining 33 percent will be paid within one year under the agreed terms.
Meanwhile, he assured that no PIA employee would lose employment during the first year after the transaction. Officials expect the investment to strengthen fleet modernisation, improve operational efficiency, and expand the airline’s international footprint.
