ISLAMABAD: The Arif Habib Group-led consortium will acquire the remaining 25% government stake in Pakistan International Airlines (PIA), aiming for full ownership. The group already bought 75% for Rs135 billion in December 2025 to revive the airline through restructuring, fleet expansion, and better service. CEO Shahid Ali Habib told Dawn, "The change of sponsors is scheduled for late April or early May." This takeover means they can run PIA as a private company without government board members. The government has given a 90-day window to buy the remaining shares, worth about Rs45 billion, with the deadline at the end of April. The agreement signed in January allows a year to transfer funds, making the deal feasible. The consortium includes Fatima Fertiliser (34.1%), Fauji Fertiliser (33.9%), Lake City (16%), and City School with AKD Group (16%). Supported by Rs125 billion, the new management will raise capital to rebrand and reform PIA. PIA, founded in 1955, became a public limited company in 2016 and was delisted in May 2024 after approval by SECP. It now operates under PIA Holding Company Ltd, set for airline privatisation.