The government formally transferred management control of Pakistan International Airlines Corporation Limited (PIACL) on Monday. Consequently, the move completed the airline’s privatisation process launched last year.
The Privatisation Commission announced the first financial closing of the transaction. Moreover, the investor consortium fulfilled all conditions under the Share Purchase and Subscription Agreement (SPSA). The restructured PIACL board also held its first meeting after the transfer.
Management Officially Takes Charge
The new board appointed Lt Gen (retd) Anwar Ali Haider as chairman. He currently serves as the managing director of Fauji Foundation.
Meanwhile, the Privatisation Commission praised Prime Minister Shehbaz Sharif and senior government officials. It also acknowledged the support of Deputy Prime Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, and relevant ministries.
The commission said authorities completed all required conditions after signing the SPSA on January 29, 2026.
Authorities secured domestic and international regulatory approvals. They also completed governance reforms, taxation restructuring, aircraft financing arrangements, and airport infrastructure requirements.
Regulatory and Commercial Requirements Completed
Officials fulfilled 40 conditions covering regulatory, commercial, contractual, taxation, governance, and shareholder restructuring matters.
The transaction required approvals from several Pakistani regulatory authorities. These included the Pakistan Civil Aviation Authority, Competition Commission of Pakistan, and Pakistan Telecommunication Authority.
Furthermore, PIACL obtained international merger clearances from Saudi Arabia and Kuwait. These approvals ensured uninterrupted airline operations after the ownership transfer.
The airline also secured 22 contractual consents from commercial partners. These included aircraft lessors, maintenance providers, fuel suppliers, airline partners, payment service providers, and other operational stakeholders.
Officials said completing these requirements marked the successful financial closing of the landmark privatisation deal.
