Islamabad: In a landmark move amid Pakistan’s ongoing economic reforms, the government has successfully privatised its loss-making national carrier, Pakistan International Airlines (PIA), selling a 75% stake to a consortium led by the Arif Habib Group for a staggering 135 billion Pakistani rupees (approximately ₹4,300 crore).
The deal, finalised after a competitive televised auction in Islamabad on December 23, marks the largest privatisation transaction in the country’s history and fulfils a key condition of the IMF bailout package.
The bidding process saw intense competition between the Arif Habib consortium, Lucky Cement, and private airline AirBlue. Arif Habib emerged victorious with the highest offer, surpassing Lucky Cement’s bid after multiple rounds. The government will retain a 25% stake, while the new owners are required to inject an additional 80 billion rupees over the next five years for fleet upgrades and service improvements. A significant portion of the sale proceeds — 92.5%— will be reinvested into PIA to help revive the once-prestigious airline that has suffered decades of mismanagement and heavy losses.
Amid discussions on the sale, attention has turned to employee perks at PIA. Air hostesses here enjoy relatively attractive packages compared to private carriers. Starting salaries range from 80,000 to 120,000 rupees per month, rising to 400,000–500,000 rupees with experience and allowances. On average, they earn around 250,000–300,000 rupees monthly — higher than peers at airlines like Serene Air (70,000–100,000 rupees) or AirBlue (65,000–95,000 rupees including housing).
Prime Minister Shehbaz Sharif hailed the transparent process as a “historic day” for Pakistan, expressing hope that private management will restore PIA to its former glory.