PIA finally sold as Arif Habib wins auction with Rs135 billion bid

PIA finally sold as Arif Habib Consortium wins auction with Rs135 billion bid

PIA finally sold as Arif Habib wins auction. File photo

December, 23 2025

(Web Desk): The Pakistan International Airlines (PIA) privatisation is completed after a fierce bidding battle as Arif Habib consortium wins with a final offer of Rs135 billion.

The privatisation process of Pakistan International Airlines has officially been completed after sealed bids were submitted by pre-qualified bidders earlier in the day.

The approved bidders included Lucky Cement consortium, private airline Airblue, and the Arif Habib consortium. All three groups participated in the first phase of bidding.

In the opening round, Lucky Cement consortium offered Rs101.5bn, Airblue submitted a bid of Rs26.5bn, while the Arif Habib consortium led with Rs115bn.

During the second phase, Lucky Cement raised its bid to Rs115.5bn, followed by Arif Habib increasing its offer to Rs116bn. This marked the start of a rapid bidding war.

The competition intensified as Lucky Cement raised the bid to Rs116.25bn, while Arif Habib responded with Rs117.5bn. Lucky then offered Rs117.75bn, pushing Arif Habib to Rs118bn.

Both groups continued raising bids step by step. Lucky Cement reached Rs118.25bn, Arif Habib countered with Rs119bn, and then Lucky offered Rs119.25bn. Arif Habib increased again to Rs120bn.

The bidding climbed further when Lucky Cement raised its offer to Rs120.25bn, followed by Arif Habib at Rs121bn. In a sudden jump, Lucky Cement offered Rs134bn, but Arif Habib quickly responded with Rs135bn.

After this final move, Lucky Cement congratulated Arif Habib consortium instead of raising the bid further. As a result, Arif Habib consortium secured PIA with a winning bid of Rs135bn.

The chairman of the Privatisation Commission said the sale of PIA is part of the government’s reform agenda, adding that today’s bidding covered 75 percent of the airline’s shares.

Prime Minister’s Adviser on Privatisation Muhammad Ali said the government’s goal is not just to sell PIA but to revive it through strong investment. He stressed that privatisation is a key pillar of the reform process.

He said the decision to privatise PIA was taken in April 2025. Two investors showed interest in buying 75 percent shares, while two others wanted 100 percent ownership.

Muhammad Ali added that 92.5 percent of the bid amount will be reinvested into PIA. Investors will be required to pay 67 percent of the total amount within 90 to 120 days after bidding.

The sharp bidding shows renewed confidence in PIA’s future. The government aims to revive the airline, not just sell it. Strong reinvestment conditions may help PIA stand on its feet again.