KARACHI, Jan 22: Pakistan International Airlines signed the landmark ‘work together’ agreement with Boeing under which eight Boeing 777 aircraft, valued at US$1.5 million, would be provided to PIA. An accord to this effect was signed on Oct 31 last year.

At an impressive ceremony, the agreement was signed by the Managing Director of PIA, Ahmad Saeed, and Senior Vice President (Sales) of Boeing, Douglas M. Groseclose, on Wednesday.

Hundreds of cheering PIA employees — high-ranking officials, engineers, technicians, air hostesses and low-grade workers — thronged the Executive Block of the PIA building to welcome the agreement.

Delivery of the first batch of special aircraft, three 777-200, two 777-200L and three 777-300, would be made in January next year.

Mr Groseclose spoke of the 30-year working relationship between the two institutions and presented Boeing’s customer support with pride.

Mr Ahmad Saeed, speaking on the occasion, recounted achievements of his team. He said that PIA was in a serious financial crisis when his team took it over. He appreciated the team members’ efforts in streamlining the airline at par with some well-established airlines of the world.

“This year, PIA earned a profit of Rs2.4 billion whereas it had suffered a loss of Rs2 billion last year. For the next year, we expect a profit of Rs3.5 billion to spare Rs1.2 billion payable under the head of pay raise,” he said. He said that though the raise would be announced in June, it would be effective January, 2003.

According to PIA sources, the agreement signed on Monday provides for PIA-Boeing collaboration as partners through a supporting relationship of openness, mutual integrity, dignity, respect and honesty so as to come up to the expectations of Boeing 777 customers.