The new owners of Pakistan International Airlines (PIA) are targeting a listing of the national carrier on the Pakistan Stock Exchange within one year of taking over operational control, according to a report by Bloomberg.
As part of the proposed listing, the consortium plans to float between 5 percent and 10 percent of PIA’s shares to the public.
The investor group, led by prominent Pakistani business houses, recently acquired a 75 percent stake in the airline from the government in a Rs. 135 billion (around $482 million) deal. Aqeel Karim Dhedhi, Chairman of AKD Group, owns a 16 percent share in the consortium.
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The new management’s strategy focuses on restoring profitability and reclaiming market share lost over the years. A key part of the turnaround plan involves reviving direct international flight operations. At present, a significant number of Pakistani passengers travel through transit hubs operated by airlines based in Qatar, the United Arab Emirates, Saudi Arabia, and Turkey. The consortium believes expanding direct routes will strengthen PIA’s competitiveness and help recover outbound passenger traffic.
Alongside the airline’s restructuring, the Privatization Commission is also pursuing a partnership for the redevelopment of the Roosevelt Hotel in New York and advancing plans to privatize power distribution companies as part of broader reform efforts.
