Published On: Wed, Mar 26th, 2014
Published in Category: Karachi

PIA fast-tracks process to lease 8 new planes for $230m

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KARACHI: Pakistan’s national flag carrier has fast-tracked the process to acquire 8 new planes, airbus 230, under lease that will cost it a massive 230 million dollars.

Pakistan International Airlines (PIA) has already signed a letter of intent to obtain 8 new planes on lease.

The magnitude of PIA’s interest can be gauged from the fact that the airline signed the letter of intent immediately after receiving it today from Qatar Leasing Company which had qualified as a bidder. PIA will pay 230 million dollars to the leasing company.

According to the airline sources, the PIA administration was facing enormous pressure in this regard from Islamabad.}