Bangladesh, June 30 -- The transition followed PIA Equity Ltd, a special-purpose vehicle of the Arif Habib Consortium, completing the takeover after receiving local and international regulatory approvals.

PIA Equity Ltd has taken full ownership of the airline through a transaction valued at approximately PKR 180 billion. The consortium includes Arif Habib Group, Fatima Fertiliser Company, Fauji Fertiliser Company, Lake City Holdings, The City School, and AKD Group Holdings.

As part of the deal, PKR 55 billion will go toward government proceeds, while PKR 125 billion will be injected directly into PIA as fresh equity to support operational restructuring, fleet renewal, route expansion, and improvements to passenger services.

Pakistan's...