Pia Lease Agreement

Pakistan International Airlines (PIA) has launched a tender for the dry rental of up to eight narrow-body aircraft, the first example to be delivered early next year. It is assumed that the airline will use the Hi Flys A330neo as part of a people rental agreement. PIA ATR-72 aircraft has been high on operating costs and therefore expects market value to render flight operations unprofitable, the PIA spokesman said in a statement. The planes of the French-Italian aircraft manufacturer, based in France, were leased in 2015 and cost more than the current market price, but a long-term agreement did not allow PIA to return them earlier. The PIA spokesperson said that the instrument of the PIA General Manager agreement for Charter and MD was signed by Oriental Sky Aviation in the PIA offices. Pia recently decided to include eight new narrow-body aircraft in its dry rental fleet. Aircraft with a capacity of more than 170 seats are expected to be delivered next year. “It`s above leasing standards,” the spokesman said. Aviation expert Afsar Malik commented on the developments, with the result that the duration of the dry rent is usually five years and that these aircraft must be on the verge of completing their dry rental period.

Meanwhile, PIA and Oriental Sky Aviation Ltd signed a cargo charter agreement on Wednesday that paved the way for direct and daily cargo flights between Pakistan and China. Since PIA purchases the aircraft for dry hire, the airline will not have a flight crew with these aircraft. Following the cancellation of the leasing agreement for four ATRs, the company would continue to operate the remaining ATR aircraft over short distances to make them financially viable. In other PIA messages, the airline entered into a freight charter contract with Oriental Sky Aviation Ltd. whereby PIA will operate seven weekly flights to Urumqi, China, with four flights per week from Islamabad and three from Lahore. The airline will use its Airbus A320s for these cargo flights. RAWALPINDI: Pakistan International Airlines (PIA) has decided to include eight new narrow-plan dry-plan aircraft in its fleet. “ATR-72 aircraft leased to PIA cost rent while on the ground. PIA officials negotiated a deal to return the plane to the leasing company without penalty. It is above leasing standards,” the spokesman said.

It intends to use the aircraft, which it says is expected to be by 2012, for a period of six years or until the first 12-year check of the aircraft. PIA has set the delivery plan for January to December next year. One of the four ATR aircraft was sent saturday from Karachi to Johannesburg, while the other three were soon sent to the airlines, whose national airline had bought them for dry hire. Pakistan International Airlines (PIA) will extend its fleet in dry contract to eight new narrow-plane aircraft. It has also signed an agreement to send direct and dedicated freight flights to China on a daily basis. He stated that the management, retired from the CEO of pianist Arshad Malik, had reviewed the lease and had benefited from a clause in the document during the suspension of flights due to the Covid 19 pandemic. These planes were leased in 2015 and are more expensive than the current market price, but PIA has had problems returning due to the application of a long-term agreement. The ATR-72 on the lease at PIA because of the rental costs all on the ground. “It would save the national airline a million dollars in rent that would have been paid if the plane with PIA had stayed on the ground because it had no flights below the pandemic.” Agreement signed for the operation of direct and daily cargo flights to China AIP management has requested, until 11 January, offers from different parties for the acquisition of the eight dry-leased aircraft, meaning that the airline would purchase the aircraft without a flight crew.

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