Pakistan’s prime minister has instructed officials to fast-track the privatisation of Pakistan International Airlines, signalling renewed urgency in efforts to restructure the loss-making national carrier the Dawn newspaper reports. During a review meeting in Islamabad, Shehbaz Sharif called for all stages of the transaction to be completed swiftly and with full transparency, while pushing for improvements in the airline’s operational performance.

Authorities outlined the latest status of the process, confirming that the Privatisation Commission has shortlisted four groups to compete for a 75% stake in the airline, together with management control. The business plan for the transaction requires that PIA’s name and branding remain intact once the sale is finalised. Preparations for the bidding phase are under way, following several months of due diligence actions the report adds.

According to Dawn, the prequalified bidders include Fauji Fertiliser Company, Air Blue, and two large consortia made up of leading Pakistani industrial and investment groups. One of the consortia, initially spearheaded by Arif Habib Corporation, has recently been expanded to include AKD Group Holdings after a request from the participating firms. The selection reflects the government’s preference for domestic entities with the financial capacity to stabilise and modernise the airline.

Officials also presented fleet-expansion plans, indicating that the number of serviceable aircraft is expected to rise from 18 to 38 by 2029. The carrier, which currently operates to more than 30 destinations, aims to extend its network to over 40 cities within the same period as part of its medium-term recovery strategy.