Pakistan, June 30 -- Pakistan International Airlines (PIA) marks a historic milestone in its aviation journey as the airline officially transitions to new management under PIA Equity Ltd, a special purpose vehicle of Arif Habib Consortium. This defining moment signifies a bold step forward in modernizing the national carrier and restoring its legacy of excellence on the global stage.

This monumental takeover is the culmination of a rigorous and transparent privatization process engineered to breathe fresh life into the flag carrier. Following the completion of all local and international regulatory approvals, including vital permissions from global lenders and specialized tax concessions; the reins of PIACL have been fully handed over to...