Karachi, Pakistan (HRNW) – Arif Habib, Chairman of the Arif Habib Group, announced that his consortium, which had earlier expressed interest in acquiring 100% of Pakistan International Airlines (PIA) shares, will now purchase the remaining 25% shares as well.
He stated that the government will receive Rs. 45 billion from the transaction, and Fauji Fertilizer Company has also joined the consortium. Arif Habib emphasized that the consortium is committed to revitalizing the national airline, which will also benefit Pakistan’s economy.
According to the chairman, in the first phase of acquisition, the number of aircraft will be 38, while in the second phase, the fleet is expected to expand to 64 planes.
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