Arif Habib looks forward to bringing major improvements in PIA to make it competitive
Pakistan International Airlines (PIA) is set for a major transformation following its privatization, as the airline's new owner, Arif Habib, announced plans to expand the fleet, improve operations and strengthen its position in regional and international aviation.
Speaking after the completion of the privatization process, Habib assured employees that no layoffs would take place for at least one year, addressing concerns over job security after the transfer of ownership.
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Habib says job security of PIA employees will depend on their performance
He said the airline's fleet will be expanded from the current 19 aircraft to around 60 over the next five years. The growth plan includes restoring grounded aircraft, leasing additional planes and acquiring new aircraft in phases.
Habib said the immediate priority is to improve operational efficiency by focusing on commercially viable and profitable routes while gradually expanding flight operations.
The Arif Habib-led consortium acquired a 75 percent stake in PIA through a competitive bidding process, while the government retained the remaining 25 percent. The privatization is part of the government's broader economic reform programme aimed at improving the performance of state-owned enterprises and attracting private investment.
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Habib consortium plans to expand PIA fleet to 64 aircraft, extend operations
According to Habib, the airline's revival strategy will emphasize sustainable growth, profitability, improved service standards and long-term competitiveness in international markets.
Source: Bloom Pakistan