The government has approved a Pakistan International Airlines’ request to lease five new aircraft, although it has turned down a request for a further five. Operating new equipment will enable the airline to continue to cut its financial losses that have accumulated to Rs267.8 billion. PIA’s board of directors has approved acquisition of six A320s and four A319s aircraft on dry lease.
The government has directed that the lease period of the four aircraft earlier acquired on wet lease may be extended so that a pool of at least 10 aircraft could be maintained. It also authorised PIA to initiate the bidding for five additional aircraft which may be inducted by June 15, 2014.