KARACHI/ISLAMABAD: Pakistan International Airlines (PIA) has officially entered a new phase in its history following the successful completion of its privatization process, with management control of the national flag carrier formally transferred to PIA Equity Limited, a subsidiary of the Arif Habib Corporation-led consortium, on June 29, 2026.
Marking a significant milestone for Pakistan’s aviation sector, the consortium has assumed operational and administrative control of the airline after the successful first financial closing of the privatization transaction.
Alongside the transfer of ownership, Lt Gen (Retd.) Anwar Ali Hyder has been appointed as the first Chairman of Pakistan International Airlines Corporation Limited (PIACL) under private ownership. Hyder, who also serves as the Managing Director of Fauji Foundation, will lead the airline’s newly constituted Board of Directors as it embarks on an ambitious transformation and modernization plan supported by fresh private investment.
The newly appointed Board of Directors comprises:
- Lt Gen (Retd.) Anwar Ali Hyder – Chairman
- Jehangir Paracha
- Gohar Ejaz
- Arif Habib
- Aqeel Karim Dhedhi
- Fazal Sheikh
- Farzana Feroz
The appointment of the new board signals the beginning of a bold new chapter for Pakistan’s national airline, with expectations of improved corporate governance, operational efficiency, financial sustainability, and enhanced passenger services.
Industry observers view the privatization as one of the most significant reforms in Pakistan’s aviation sector, aimed at restoring PIA’s competitiveness in regional and international markets after years of financial and operational challenges.
Under the leadership of the newly appointed board and with the backing of private-sector investment, the airline is expected to pursue comprehensive restructuring initiatives focused on fleet modernization, service excellence, network expansion, and long-term profitability.
The successful transfer of management control marks the official beginning of PIA’s journey as a privately managed national carrier, opening a new era of growth, innovation, and transformation for Pakistan’s aviation industry.
