Arif Habib says PIA could become profitable in first year after privatisation

KARACHI: Prominent Pakistani businessman Arif Habib has expressed confidence that Pakistan International Airlines (PIA) will become a profitable enterprise within its first year following privatisation.

In an exclusive interview, Habib said the airline would operate only commercially viable routes, adding that no route would be maintained on a non-commercial or subsidised basis.

He said payment for 66 per cent of the airline's shares had already been made, while the remaining 34 per cent would be paid within one year under the terms of the agreement.

Habib added that, in accordance with the privatisation agreement, no employee would be made redundant during the first year. Recruitment for senior management positions is currently under way and is expected to be completed within the next six weeks.

He said PIA currently operates a fleet of 19 aircraft, with plans to expand it to 60 aircraft over the next five years. As the fleet grows, the airline will also increase its workforce to meet operational requirements.

According to Habib, four to five aircraft in the existing fleet are undergoing repairs and are expected to return to service soon. He said efforts were being accelerated to restore these aircraft to operational status.

He further announced that five additional aircraft would be added to the fleet this year, with a further five aircraft planned for induction annually in the coming years.

Habib also said special emphasis would be placed on upgrading PIA's engineering facilities in Karachi, adding that significant investment.