PIA to Add 2 New Airbus Planes – Research Snipers

PIA to Add 2 New Airbus Planes

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The Pakistan International Airlines (PIA) has taken the decision to add 2 new Airbus planes into its fleet by the start of next year that is 2019.

The decision was taken while an executive meeting was in the procession led by the Chairman and Chief Executive Officer of PIA—Muhammad Saqib Aziz.

During the meeting, a review was done about the performance of PIA in the last two months.

The step of inducing 2 new Airbus planes is targeted towards expanding the PIA’s fleet to meet the market demand as it was becoming tough to manage the needs of all the passengers with the present number of planes.

The process of checking the A-320 planes is under procession and they would be acquired on a dry lease under the Public Procurement Regulatory Authority (PPRA) rules, as informed by the national flag carrier in one of its statement. The dry lease would be for a span of six to eight years and then the airline could attain a new upgraded plane.

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The CEO of PIA said that getting the two new planes would assist PIA in spreading its business and would add to the number of passengers travelling via the airlines.

The planes would be used majorly for the local and regional routes, which includes South East Asia and the Gulf countries.

PIA is under a lot of burden of nearly rupees four hundred and six billion against the assets of just rupees one hundred and eleven billion. The national carrier has incurred losses of three hundred and sixty billion rupees by the end of 2017, as indicated by an audit report submitted to the Supreme Court by the auditor general pf Pakistan (AGP).

In the month of May, the top court had directed the AGP to hold an audit of PIA for the last ten years. Major losses of PIA bore by the airline are under the caption of financial expenses as it has to repay loans of nearly two billion rupees per month.

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