The government of Pakistan has approved four potential investors to takeover Pakistan International Airlines (PIA) as it steps up its ambitions to privatize the carrier. The Ministry of Privatization confirmed on July 9, 2025, that the bidders included two consortiums and two single entities. The prequalification of four interested parties for the divestment of PIA was passed by the Chairmanship of Adviser to the Prime Minister on Privatization, Muhammad Ali, during a meeting in Islamabad.

The potential investors included Pakistani carrier Airblue and Fauji Fertilizer along with a consortium combining Lucky Cement, Hub Power, Kohat Cement and Metro Ventures. The second consortium was made up of Arif Habib, Fatima Fertilizer, City Schools and Lake City Holdings. The Pakistan government said the four bidders were selected following "thorough scrutiny" after Statements of Qualification (SOQs) were submitted by five prospective investors.

"The prequalified parties will now proceed to the buy-side due diligence phase – a critical next step in the transparent and competitive privatization process of PIA," the Ministry of Privatization said. The Pakistan government is looking to sell at least 51% of the troubled airline but has suggested it would be willing to relinquish its full stake as part of future negotiations.

The UK suspended flights of all Pakistan-based airlines, including PIA, in 2020 following safety concerns raised after the revelation that PIA was employing pilots with falsified flying licenses. The ban imposed by the UK coincided with a wider ban being imposed by the European Aviation Safety Authority (EASA), which was eventually lifted at the end of 2024.