New Owners Plan to List PIA on PSX Within a Year, Aim to Restore Direct International Flights

New Owners Plan to List PIA on PSX Within a Year

New Management Targets Profitability and Market Revival After Rs. 135 Billion Acquisition

Pakistan’s national carrier, Pakistan International Airlines (PIA), is set for a major transformation as its new owners prepare to list the airline on the Pakistan Stock Exchange (PSX) within a year of assuming operational control, according to Bloomberg.

The consortium — led by prominent business groups — recently acquired a 75 percent stake in PIA from the government for Rs. 135 billion (approximately $482 million). As part of its post-acquisition strategy, the new management plans to offer between 5 percent and 10 percent of the airline’s shares to the public through the proposed stock exchange listing.

Strong Business Backing Behind the Deal

A key figure in the consortium is Aqeel Karim Dhedhi, Chairman of AKD Group, who holds a 16 percent stake in the investor group. The consortium’s leadership has outlined an ambitious roadmap focused on restoring profitability, strengthening operations, and reclaiming lost market share.

Focus on Direct International Connectivity

One of the new owners’ top priorities is reviving direct international flight operations. Currently, a significant number of Pakistani travelers rely on transit hubs operated by airlines based in Qatar, the United Arab Emirates, Saudi Arabia, and Turkey for long-haul travel.

By reintroducing competitive direct routes, the management aims to reduce dependency on foreign carriers, improve passenger convenience, and recapture outbound traffic that has shifted to regional competitors over the years.

Broader Privatization Agenda Underway

Beyond PIA, Pakistan’s privatization drive continues to gain momentum. The Privatization Commission is seeking a strategic partner to redevelop the Roosevelt Hotel in New York, while also advancing plans to privatize power distribution companies. These initiatives are intended to attract foreign investment, improve operational efficiency, and strengthen the country’s fiscal position.

A Turning Point for PIA

The planned stock exchange listing marks a significant milestone in PIA’s restructuring journey. If successful, the move could enhance transparency, improve governance standards, and provide fresh capital to support expansion.

With new leadership at the helm and a clear strategy focused on profitability and international competitiveness, the coming year could prove pivotal for Pakistan’s flagship airline.