ISLAMABAD: Arif Habib has announced ambitious plans to induct more than 30 new aircraft into the Pakistan International Airlines fleet over the next two and a half years despite a severe global fuel crisis.
The revelation comes directly from the business tycoon who led the consortium acquiring a 75 percent stake in the national carrier in December 2025 for Rs135 billion equivalent to 482 million dollars.
Habib told Arab News in an exclusive Sunday interview that the group is actively scouting the market for about 20 aircraft with deliveries targeted at the earliest possible date.
PIA currently maintains a total fleet of 30 aircraft but only 18 remain operational with several others grounded pending urgent maintenance.
Restoration efforts aim to bring the active fleet to 26 aircraft in the immediate phase before scaling up further through fresh inductions.
The medium term target stands at 38 aircraft while long term projections envision expansion beyond 60 planes in phased rollout.
This aggressive growth strategy follows decades of PIA accumulating losses exceeding 2.8 billion dollars under state ownership.
The privatisation process offloaded legacy debt of 2.3 billion dollars to a separate government holding company clearing the path for operational turnaround.
Yet the timing coincides with the United States Israeli war on Iran that has driven jet fuel prices to nearly 200 dollars per barrel in recent weeks.
The spike has compelled PIA to suspend or curtail flights to critical destinations including Beijing Kuala Lumpur and multiple Gulf region hubs.
Global aviation faces parallel disruptions with major carriers such as Delta United and Air India slashing routes and imposing fare hikes of up to 17 percent to offset costs.
Industry data shows jet fuel prices nearly doubled since the conflict escalated in late February pushing operational expenses across the board.
Habib explicitly sought government relief on jet fuel pricing to shield the revived airline from these external shocks.
The consortium including partners like Fatima Fertilizer has pledged to reinvest substantial portions of the bid proceeds into fleet modernisation and route restoration.
PIA once operated around 50 aircraft serving nearly 40 international destinations but chronic mismanagement had reduced it to a shadow of its former self.
Privatisation represents Pakistan’s first major state enterprise sale in nearly two decades and aligns with International Monetary Fund backed economic reforms.
Analysts project the fleet expansion could generate thousands of direct and indirect jobs while strengthening Pakistan’s connectivity for trade and tourism.
Aircraft availability in the global market remains a key variable yet Habib stressed proactive engagement to secure deliveries swiftly.
The new ownership structure grants greater autonomy with the consortium now considering full acquisition of the remaining 25 percent government stake.
Regional media including Dawn and Geo TV have highlighted the plans as a potential game changer for national aviation amid ongoing geopolitical tensions.
International coverage of the broader fuel crisis by BBC and Reuters underscores the widespread impact on airlines worldwide validating PIA’s challenges.
Despite headwinds the announcement signals renewed confidence in PIA’s future as a competitive regional player.
Habib’s vision positions the airline for sustained profitability and enhanced passenger services once the fleet modernisation gains momentum.
Pakistan’s aviation sector stands at a pivotal juncture with private management injecting fresh capital and strategic direction.
The coming months will test the resilience of this revival blueprint against volatile fuel markets and supply chain constraints.
Success could set a precedent for further privatisation drives across loss making state entities in the country.
