ISLAMABAD: Arif Habib, Chairman of the Arif Habib Group, has confidently stated that Pakistan International Airlines (PIA) is on track to become a profitable entity within its first year of restructuring. He revealed that PIA’s current fleet consists of 19 aircraft and plans are underway to expand this to 60 planes over the next five years.
He mentioned that several aircraft in the fleet, currently numbering four to five, are undergoing necessary maintenance and repairs to resume full operations. Habib emphasized that steps are being taken to restore PIA’s operational capacity, including the addition of five new aircraft to the fleet and an increase in staff to support expansion.
He highlighted that PIA will focus exclusively on profitable routes, steering clear of routes sustained by donations or subsidies. Special attention will be given to strengthening the engineering department, with substantial investments planned to modernize and enhance its capabilities.
Regarding ownership, Habib confirmed that the payment for 66% of the shares has been completed, with the remaining 34% set to be settled within a year. Importantly, he reassured that under the current agreement, no employees will face layoffs during this restructuring process.
