Islamabad, December 16, 2025 – The long-awaited privatisation of Pakistan International Airlines (PIA) has gained significant momentum, with four consortia pre-qualified to bid for a controlling stake in the national carrier. The competitive bidding is scheduled for December 23, 2025, and will be broadcast live on national television to ensure maximum transparency, as announced by Prime Minister Shehbaz Sharif.
The pre-qualified bidders are the Lucky Cement Consortium (including Hub Power Holdings, Kohat Cement, and Metro Ventures), the Arif Habib Corporation Consortium (with Fatima Fertiliser, City Schools, and Lake City Holdings), Fauji Fertiliser Company Limited, and private airline Air Blue Limited. Serious contenders like the Lucky and Arif Habib groups have engaged international aviation experts—Pegasus Airlines from Turkey and Sibra Aviation Partners, respectively—to refine their bids. Reports suggest both may seek partnerships with Fauji Fertiliser to strengthen their offers.
Read More: https://theboardroompk.com/pm-promises-live-tv-coverage-for-pia-privatization-bids-on-december-23/
This renewed push follows a failed attempt last year, when a lone bid of just Rs10 billion from Blue World City fell far short of the Rs85 billion reserve price and was rejected. The Privatisation Commission relaunched the process in April 2025, inviting expressions of interest for 51-100% stake with management control. Key hurdles, including outstanding loans and tax issues, have been resolved, paving the way for progress.
PIA has shown signs of recovery, posting Rs11 billion in pre-tax profits this financial year. The expected reserve price is now Rs90-100 billion. Post-privatisation plans include fleet expansion from 18 to 38 aircraft within four years, route growth to over 40 cities by 2029, and retaining the iconic PIA brand and national flag on planes.
As the deadline approaches, PIA’s 6,500 employees express anxiety over job security. The government emphasises a transparent process to restore the airline’s former glory as “Great People to Fly With.” This marks Pakistan’s first major privatisation in nearly two decades, aligned with IMF reform commitments.