PIA weighs Boe­ing and Air­bus air­craft orders

Kuwait Times - - BUSINESS -

Pak­istan In­ter­na­tional Air­lines (PIA) is eval­u­at­ing an or­der for wide-body Air­bus and Boe­ing jets as it looks to up­grade its age­ing fleet, an ex­ec­u­tive for the state-owned air­line said yes­ter­day. “Boe­ing 777X would be a good op­tion,” the air­line’s ex­ec­u­tive di­rec­tor of hu­man re­sources and works, Ra­heel Ahmed, told re­porters on the side­lines of an in­dus­try con­fer­ence in Dubai.

The air­line is also look­ing at the Air­bus A330 and A350 mod­els, he added. PIA would con­sider pur­chas­ing the air­craft di­rectly from the man­u­fac­turer and fi­nanc­ing the or­der through a sale and lease­back ar­range­ment. It would also con­sider a di­rect leas­ing agree­ment, known as a dry lease. A sale and lease­back is when the air­line sells the jet to a lessor who then leases it back. Ahmed did not say when PIA would make the or­der or how many jets it could buy. PIA has a fleet of 38 nar­row-body and wide-body Air­bus and Boe­ing jets, Ahmed said, with three A310s to be re­tired on Dec 31.

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