Pakistan International Airlines may be about to make its boldest hire since privatisation. According to a Bloomberg report citing a person familiar with the matter, PIA new CEO Tewolde Gebremariam talks have advanced far enough that an official announcement could land as early as Sunday — though formal approvals are still pending.
If it happens, it would hand the national carrier’s cockpit to the man widely credited with building Ethiopian Airlines into Africa’s largest and most profitable airline.
Who Is Tewolde Gebremariam, PIA’s Reported CEO Pick?
PIA new CEO Tewolde Gebremariam speculation centers on a genuine industry heavyweight. He led Ethiopian Airlines Group for years, expanding its global network and turning Addis Ababa into one of the continent’s busiest aviation hubs.
He stepped down in 2022, with Mesfin Tasew Bekele taking over as Group CEO that March. Gebremariam’s exit was linked to health-related early retirement, according to the airline’s own board statement at the time.
- Widely regarded as the architect of Ethiopian Airlines’ modern expansion
- Oversaw fleet growth, route diversification, and hub development in Addis Ababa
- Departed the airline in 2022 after leading it for over a decade
Inside the Shortlisting — What Bloomberg’s Report Reveals
Both PIA and Gebremariam declined to comment when approached, according to the Bloomberg report. That silence is fairly standard in cross-border executive negotiations, but it hasn’t stopped Pakistani aviation watchers from reacting.
One aviation commentator, Usama Qureshi, described the prospect as an exciting development, calling Ethiopian Airlines’ transformation under Gebremariam one of the industry’s standout turnaround stories.
The timeline matters here. PIA’s new owners are reportedly targeting a Sunday announcement, though the formal hiring process — board sign-off, regulatory clearance, contract terms — hasn’t concluded. That’s a tight window even by Pakistani corporate standards.
Why PIA Needs a Turnaround Specialist Right Now
This isn’t a routine leadership change. PIA has burned through more than $2.8 billion in accumulated losses over the years, and its last serious privatisation attempt in 2024 drew just a single, underwhelming bid.
The airline has cycled through a string of interim and acting chiefs in recent years — from military-background administrators to commercial department heads filling gaps. None delivered a lasting fix.
- PIA’s fleet has shrunk to roughly 15–18 operational aircraft in recent years
- The airline has accumulated over $2.8 billion in losses historically
- Previous privatisation attempts stalled or failed outright before 2025
A CEO with proven experience scaling a state-linked carrier internationally is exactly what the new ownership says it wants.
The Arif Habib Consortium’s Rs180 Billion Bet
Context here is critical. Businessman Arif Habib’s consortium — which includes Fatima Fertiliser, Fauji Fertiliser, AKD Group, City School, and Lake City Holdings — completed its takeover of PIA in stages through 2026.
The group first secured a 75% stake for Rs135 billion in a December 2025 auction, then moved to acquire the remaining 25% for roughly Rs45 billion, giving it full ownership by late April 2026. Management control formally transferred on June 29, 2026.
- Total transaction value: approximately Rs180 billion ($643 million)
- Rs125 billion earmarked as fresh equity for fleet and route expansion
- Rs55 billion paid to the government as divestment proceeds
Arif Habib has publicly said the airline’s revival will require disciplined capital management and professional governance, marking a departure from decades of state-backed operations. Hiring an outsider with a strong operational résumé fits that stated philosophy.
Gebremariam’s Ethiopian Airlines Legacy — A Model for PIA?
Ethiopian Airlines’ rise under Gebremariam is frequently cited as one of Africa’s rare aviation success stories — a state-linked carrier that scaled internationally without losing profitability.
That’s precisely the template PIA’s new owners appear to be chasing: a carrier that regains lost international routes, rebuilds a battered brand, and competes seriously with Gulf and regional airlines again.
Whether that model transfers cleanly to Pakistan’s more politically layered aviation environment — with entrenched unions, legacy debt, and years of service-quality decline — remains an open question industry analysts are already debating.
What This Means for PIA’s Global Route Ambitions
Habib has previously outlined plans to grow PIA’s operational fleet from around 15–18 aircraft to 38 in the short term, and eventually to 65, while rebuilding trust with Hajj, Umrah, and diaspora travelers who drifted to rival airlines.
A CEO experienced in hub-building and long-haul network expansion would be a natural fit for that roadmap — particularly as PIA works to fully restore its European operations following past regulatory bans.
Industry and Public Reaction
Reaction so far has been cautiously optimistic rather than celebratory. Aviation observers note that PIA has seen “saviour” narratives before, only to watch turnaround plans stall against bureaucratic and labour realities.
Still, the symbolism of hiring a proven African aviation leader — rather than another retired Pakistani bureaucrat or military official — is being read as a signal that the new owners intend a genuine operational overhaul, not a cosmetic rebrand.
Formal confirmation is expected soon, and Factfile will update this story as details are verified.
