Business Desk 
Dec 24, 2025
Fauji Fertilizer Group’s inclusion in the consortium acquiring Pakistan International Airlines (PIA) is being seen as a positive step for the national carrier, according to Prime Minister’s Adviser on Privatisation Muhammad Ali.
Speaking to the media in Islamabad on Wednesday, he said the move could help revive the struggling airline after decades of decline.
Ali said PIA’s real strength lies not in its aircraft but in its domestic and international routes. He explained that the airline’s route network is its most valuable asset and a key reason investors remain interested.
PIA currently carries around four million passengers every year and holds nearly a 30% share of the market despite years of financial and operational challenges.
The adviser highlighted past mistakes, saying poor governance, bad policy decisions, and a failure to adopt modern technology pushed the airline into steady decline. He pointed out that while PIA once operated close to 50 aircraft, over time the fleet should have increased to around 100.
It shrunk instead because of mismanagement and weakened the airline's globally competitive position. Privatisation provides an opportunity, he added, to gradually restore the position of PIA with positive contributions toward the country's GDP.
Sharing fleet details, Muhammad Ali said PIA currently has 33 aircraft, of which only 19 are operational. These include 16 Airbus A320s, of which 11 are in service, and 12 Boeing 777s, of which six are flying.
Twenty aircraft are owned by PIA, while 13 are leased. Most of the fleet was acquired before 2010, reflecting limited investment in recent years.
According to the adviser, the troubles for PIA started after 1990. The privatisation attempts earlier in 1999, 2005, and 2024 were not successful.
He mentioned that since 2015, the airline had been suffering losses amounting to billions of rupees every year. He confirmed that the latest privatisation process, which was launched in April 2025, concluded successfully on December 23, a long-awaited milestone for PIA.
