Pakistan Flag Carrier Sold Amid Financial Crisis and Regulatory Challenges

Pakistan International Airlines has been sold to a consortium of investors led by Arif Habib Limited, with the Pakistani government receiving 10 billion Rupees in cash and the rest injected into the airline to restructure. The sale price is 135 billion Rupees (US$482 million) for 75% of the airline. The new owners will retain all employees and commit to unchanged contracts for 12 months. The airline’s past issues with pilot licensing and regulatory non-compliance may pose challenges for the new owners.