Pakistan International Airlines is set to move into full private ownership after a consortium led by Arif Habib Corporation Limited formally notified the Privatisation Commission of its intention to acquire the remaining 25 percent stake in the national carrier.

The development was disclosed in a notice to the Pakistan Stock Exchange, which said management control is expected to be transferred on or before May 25, 2026, subject to the completion of conditions set out in the share purchase and subscription agreement signed earlier this year.

The total transaction is estimated at around Rs. 180 billion, including at least Rs. 55 billion payable to the government as divestment proceeds and Rs. 125 billion planned as fresh equity injection into the airline.

Officials said the new capital would be used to expand and modernize PIA’s fleet, open new routes and improve customer service and operational systems.

The consortium includes Fatima Fertilizer Company Limited, Lake City Holdings, The City School, AKD Group Holdings and Fauji Fertilizer Company Limited, alongside Arif Habib Corporation.

The move follows the consortium’s earlier acquisition of a 75 percent stake in PIA for Rs. 135 billion, marking a major step in the government’s privatization drive.

The full takeover could speed up restructuring efforts at the airline, with plans to expand the fleet to around 50 aircraft by September 2026 as part of a revival strategy.