Business Desk 
Oct 18, 2025
A Pakistan International Airlines (PIA) plane prepares to take-off at Allama Iqbal International Airport in Lahore. — Reuters
The Senate Standing Committee on Defence was informed on Friday that four companies, Arif Habib Limited, Fauji Fertiliser Company (FFC), Air Blue, and Lucky Group, have taken part in the privatisation process of Pakistan International Airlines (PIA), which is expected to conclude by early next month.
The Defence Secretary briefed the meeting, which was chaired by Senator Muhammad Talha Mahmood, on the current status of the process. The committee was advised that all bidding companies had requested some relaxations in relation to the government's terms and conditions.
However, the government made it clear that regarding the PIA name, flag and ownership, it will remain Pakistani with no majority ownership by any individual or entity outside Pakistan.
The committee also received a briefing on the closure of PIA operating in the UK and Europe. Officials explained that in 2018, PIA offered 1,420 flights on those routes and generated Rs36 billion in revenue against expenses of Rs39 billion.
In 2019, there were only 478 flights, and the revenue was Rs15 billion against Rs13 billion in expenses. Suspension of operations led to financial losses of Rs13 billion and damaged PIA’s international reputation.
Mahmood directed relevant authorities to discontinue the free air travel privileges and to take appropriate measures against unlawful union activity.
