Pakistan International Airlines can become profitable within its first year after privatization through improved management, fleet expansion and a stronger focus on commercially viable routes, leading businessman Arif Habib said.

Speaking about the consortium’s plans for the national carrier, Habib said PIA’s current fleet of 19 aircraft is expected to expand to 60 over the next five years, more than tripling its size. He said four to five grounded aircraft will be repaired and returned to service, while another five aircraft are expected to join the fleet this year.

Habib said the fleet expansion would also require an increase in staffing to support future operations. He added that the airline would concentrate on profitable domestic and international routes while also investing in the modernization of PIA’s engineering and maintenance facilities in Karachi.

Commenting on the privatization deal, Habib said payment for 66% of the shares has already been completed, while the remaining 34% will be paid within one year under the terms of the agreement.

He also sought to reassure employees, saying no staff member would be laid off during the first year after privatization. Recruitment for senior management positions is currently underway and is expected to be completed within the next one to one-and-a-half months.

The privatization of PIA marks one of Pakistan’s biggest state-owned enterprise reforms in recent years, with the new owners seeking to restore the airline’s financial health after years of losses and operational challenges.