Chairman of the Arif Habib Group, Arif Habib, has said that his consortium is keen to acquire 100 percent ownership of the national airline and intends to purchase the remaining 25 percent stake within the next 90 days.
Speaking to the media, Arif Habib said the consortium was already interested in full ownership of the airline. He stated that under the current arrangement, the government would receive Rs10 billion for the sale of 75 percent shares, while an additional Rs45 billion would be paid to the government for the remaining 25 percent stake.
He further disclosed that Fauji Fertilizer Company has now joined the consortium, strengthening its financial and operational base.
Outlining future plans, Arif Habib said that the number of aircraft would be increased in phases. “In the first phase, the fleet will be expanded to 38 aircraft, and in the second phase, it will be taken up to 64 aircraft,” he said.
Sharing details of the airline’s financial position, he said the national carrier currently has liabilities amounting to Rs190 billion, while its assets are valued at around Rs180 billion.
Arif Habib expressed confidence that the airline could be turned around through dedicated efforts and professional management. He said reviving the national airline would not only restore its past stature but also contribute positively to Pakistan’s economy.
