KARACHI, Nov 7: PIA inducted another Boeing 747-300 aircraft into its fleet on Thursday that will be operated on the US and European routes.

The aircraft induction ceremony was performed by PIA Managing Director Ahmed Saeed at the tarmac of Karachi airport where he also gave a resume to journalists about the modernization plan of the PIA fleet.

This was the sixth Boeing aircraft bought from Cathay Pacific airline as earlier five 747-300s, acquired on lease, had also been bought for 63 million US dollars in addition to the lease amount paid for the aircraft since induction in 1998.

In reply to a question, Mr Saeed said the PIA seat factor had attained between 78-80 per cent which was a record as formerly it used to be between 60-65pc.

Under the plan, aging Boeing 747-200, A-300 and Fokker F-27 aircraft are being replaced in order to meet competition from regional carriers. Now PIA has a mixed fleet of some 40 aircraft which include 11 Fokker F-27, Boeing 707, 737, 747 and airbus.