Pakistan International Airlines Sold Amid Political and Military Debate

After more than seven decades as the nation’s flagship carrier, Pakistan International Airlines (PIA) has been sold, ending years of stalled privatisation attempts. In a publicly televised auction earlier this week, the government sold a majority stake in PIA for $482 million.

The winning bid came from a consortium led by Karachi-based securities brokerage Arif Habib Limited (AHL), alongside AKD Group Holdings Limited, Fatima Fertilizer, City Schools, and Lake City Holdings Limited. While supporters hail the sale as a step toward financial stability and operational efficiency, critics argue that the military’s stake in the transaction raises concerns over transparency and the true beneficiaries.

PIA has long struggled with financial losses, management inefficiencies, and operational challenges, including a four-year ban from flying to Europe, which was lifted earlier this year. The airline recently resumed direct flights to Paris, signaling a cautious recovery under international regulations.

Privatisation advocates argue that the deal will attract investment, modernise operations, and make PIA globally competitive. Meanwhile, political opponents warn that the sale could impact employment, national pride, and strategic interests, fueling heated debates across Pakistan’s political landscape.

As PIA transitions from state ownership to a privately managed consortium, the nation watches closely. The outcome of this historic move could redefine Pakistan’s aviation sector, test public confidence in large-scale privatisation, and influence future decisions about state-owned enterprises.