Karachi: In a significant development for Pakistan’s aviation sector, a consortium led by Arif Habib Corporation Limited (AHCL) has emerged as the highest-ranked bidder in the privatisation process of Pakistan International Airlines Corporation Limited (PIACL). The consortium, comprising Fatima Fertilizer Company Limited, The Lake City Holdings (Private) Limited, AKD Group Holdings (Private) Limited, and City Schools (Private) Limited, participated in the bidding process held on December 23, 2025.
The AHCL-led group submitted a bid price of PKR 135 billion for a 75% equity stake in PIACL, aiming to acquire this stake through a step-wise process as detailed in the transaction documents. According to information available from the Pakistan Stock Exchange (PSX), this move marks a significant step towards the privatisation of the national flag carrier, pending requisite approvals.
The confirmation of the bid price acceptance is contingent upon the necessary approvals and recommendations from the Board of the Privatisation Commission and the decision of the Government of Pakistan, including the Federal Cabinet. Upon obtaining these approvals, a Letter of Acceptance will be issued, officially declaring the successful bidder.
The consortium’s participation in this high-profile bidding process highlights a strategic expansion move by its constituent companies, each bringing diverse expertise to the table. As the process unfolds, the consortium is committed to adhering to confidentiality obligations and national interest considerations, ensuring timely disclosures of any material and price-sensitive information to the relevant authorities.
The privatisation of PIACL is poised to be a landmark transaction, with the consortium’s bid awaiting final approval to proceed with the acquisition. This development is closely watched by stakeholders and market participants, as it holds significant implications for the future of the country’s aviation industry and economic landscape.