Pakistan’s privatisation of Pakistan International Airlines (PIA) has entered a significant new phase after the federal government formally transferred 11 properties worth Rs14.2 billion to the airline’s new owners. The move marks another milestone in the government’s Rs55 billion privatisation agreement aimed at reviving the national carrier through fresh investment and operational restructuring.
The transfer includes seven overseas properties and four domestic assets, while the remaining 33 properties will remain under the PIA Holding Company. Privatisation Secretary Usman Bajwa disclosed the details during a meeting of the Senate Standing Committee on Privatisation chaired by Senator Afnan Ullah Khan.
Officials informed the committee that the transferred assets are valued at more than the Rs10 billion already paid by the buyers during the first phase of the transaction. Under the agreement, the consortium completed the first closing on June 29, 2026, securing a 75% ownership stake and management control of PIA. The remaining 25% stake is expected to be transferred within a year after an additional payment of Rs45 billion.
The new owners have also injected Rs80 billion in fresh equity to modernise PIA’s fleet, expand domestic and international routes, improve operational efficiency, enhance passenger services, and strengthen the airline’s financial position.
Among the domestic properties transferred are PIA offices in Rawalpindi, Peshawar, Islamabad’s Blue Area, and Quetta. Overseas assets include properties in Mumbai, New Delhi, Amsterdam, Tashkent, and a residential property in Scarsdale, New York.
Bajwa also told lawmakers that Islamabad is planned to become PIA’s primary operational and business hub to support future expansion. Separately, officials said the government aims to market New York’s Roosevelt Hotel by December 2026, while investors from Türkiye, China, and Saudi Arabia have shown interest in Pakistan’s electricity distribution companies as the broader privatisation programme continues.
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