After Four Decades of Decline, Can Private Ownership Save Pakistan’s National Airline?

Arif Habib’s $482 million bet on PIA marks Pakistan’s first major privatization in two decades—but the real challenge begins now When the hammer fell in Islamabad on December 23, Pakistan International Airlines—once the jewel of Asian aviation, now a cautionary tale written in red ink—found a buyer willing to wager nearly half a billion dollars…