August 27, 2002	Tuesday	Jamadi-us-Saani 17,1423

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ISLAMABAD, Aug 26: Pakistan International Airlines Corporation (PIAC) will purchase 10 new or slightly used aircraft by 2003 to modernize its fleet.

“We have just purchased six used B747-300 aircraft from Cathay Pacific and now we have been allowed by the federal authorities to induct 10 more aircraft into PIA fleet for which $150 million was also offered by the government”, said secretary defence and chairman PIAC, Lt-Gen(retd) Hamid Nawaz Khan.

Speaking at a news conference here on Monday he said Aircraft Acquisition Committee headed by Vice Chief of the Air Staff, Air Marshal Salim Arshed was holding indepth discussion with Boeing and Airbus companies to acquire 10 aircraft for PIA on competitive prices and without allowing anyone to indulge in kickbacks and commission.

He said the committee has worked out a 10-year fleet replacement plan covering in detail financial, operational and marketing aspects as an integral part of the PIA’s business plan to set the strategies and competitive direction for the next decade. The vice chief of air staff and managing director of PIA Chaudhry Ahmad Saeed were also present on the occasion and talked to newsmen.

The PIA chairman said that three B-777 family of aircraft will be purchased by 2003. Similarly, he said the PIA will acquire 7 Turboprop aircraft by 2003 to replace F-27 aircraft.

Responding to a question he said that since prices of aircraft have declined substantially due to events of Sept 11, PIA was likely to go for new aircraft. “But we do have option, either to purchase new aircraft directly from Boeing or to consider leasing of new/used aircraft”, he said adding that purchase/lease of slightly used aircraft from United Airlines or the combination of new and used aircraft could also be considered.