PIA to acquire 12 planes on dry lease

Published May 15, 2015
The Pakistan International Airlines had no plans to purchase new aircraft.—Reuters/File
The Pakistan International Airlines had no plans to purchase new aircraft.—Reuters/File

ISLAMABAD: The Senate was informed on Thursday that the national flag carrier would soon be acquiring 12 aircraft on dry lease.

Minister of State for Parliamentary Affairs Sheikh Aftab Ahmad told the house that nine A320 narrow-body, short-to-medium-haul jet airliners and three ATR-72 twin-engine, turboprop, short-haul regional aircraft would be acquired.

The Pakistan International Airlines had no plans to purchase new aircraft, he said, adding that it had acquired 13 aircraft on wet lease and six on dry lease since March 2014. At present, four A320 and two ATR-72 planes acquired on dry lease were in operation.

Also read: PIA doles out 200 free Dubai, UK tickets as ‘compensation’

The minister said a wet lease was an arrangement under which a company provided an aircraft along with crew, maintenance and insurance and the payment made was calculated on hours operated. It usually is a short-term arrangement.

A dry lease is an arrangement whereby an aircraft is provided without crew, maintenance and insurance to an airline on payment to be made on monthly or yearly basis. It is usually a long-term arrangement.

Thirteen aircraft had been obtained on wet lease between March and November 2014 to meet short-term capacity requirement of PIA, he said.

They were returned on completion of the lease term this month. Two of these planes were returned on May 13.

Answering a question, Sheikh Aftab said the profit and loss account for the period ending on June 2014 showed reduction in losses of the PIA to the tune of Rs8.25 billion when compared to the corresponding period of 2013. The PIA earned an operational profit of Rs2.14bn in the first quarter of 2015.

Published in Dawn, May 15th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play

Opinion

Awaiting orders
25 Oct 2021

Awaiting orders

Orders are given for demolition. Some structures go down. Some still stand.
Is it our own?
25 Oct 2021

Is it our own?

It is fair to ask what truly determines our success.
Up, up and away
Updated 25 Oct 2021

Up, up and away

Irate Twitterati want Superman to stop meddling.
No-trust resolution dynamics
Updated 24 Oct 2021

No-trust resolution dynamics

It is heartening that the effort to remove a chief minister is following constitutional norms.

Editorial

25 Oct 2021

Party to a vile campaign

THE PTI government’s hostility towards the media and its intolerance for dissent is well known. The target of ...
Financial crisis
Updated 25 Oct 2021

Financial crisis

DESPITE having progressed to ‘very good step’ and being ‘close to concluding the agreement’ a few days back,...
25 Oct 2021

Morals and Pemra

TIME and again, Pemra has come under fire for issuing arbitrary instructions to TV channels on matters ranging from...
Anti-government rallies
Updated 24 Oct 2021

Anti-government rallies

Banning a party because it can create a public nuisance sets a dangerous precedent which can be repeated to justify future bans.
24 Oct 2021

End of polio?

AFTER a long struggle, the reward is finally in sight. With only a single case of wild poliovirus reported this year...
24 Oct 2021

Heritage work

IT is encouraging that, slowly, projects of heritage conservation and preservation appear to be taking off. These...