CCP Approves PIA Acquisition by Arif Habib-Led Consortium Under Competition Act

Approves PIA Acquisition

The (CCP) has approved the proposed acquisition of Pakistan International Airlines Corporation Limited (PIA) by M/s. PIA Equity Limited. This decision follows a detailed Phase-I competition assessment under Section 11 of the Competition Act, 2010.

The transaction is part of the Government of Pakistan’s privatization initiative. The acquiring consortium includes M/s. Arif Habib Corporation Limited, M/s. Fatima Fertilizer Company Limited, M/s. Lake City Holdings, M/s. City Schools, and M/s. AKD Group Holdings.

The CCP’s assessment covered multiple relevant markets, including passenger air transport, cargo services, postal carriage, and aviation-related technical services. The analysis found that Pakistan’s aviation sector remains highly competitive, particularly on international routes, with strong global carriers such as Emirates, Qatar Airways, and Etihad Airways dominating the market.

The Commission noted that PIA’s declining market share due to operational challenges reflects sustained competitive pressures in the sector. The transaction has been assessed as a conglomerate merger, not raising structural competition concerns.

The CCP concluded that the proposed acquisition does not create or strengthen a dominant position in any relevant market, nor is it likely to lessen competition significantly. The Commission remains committed to facilitating privatization initiatives that promote competition and economic growth while ensuring fair, transparent, and competitive markets.