Transfer of ownership of the six aircraft to national flag carrier is another step forward in implementing the business plan under vision 2020 and will help PIA save about $2 million monthly rentals, which will help greatly in reducing its losses.The agreement was signed by PIA Managing Director Nadeem Khan Yousufzai and Airbus Asset Management Director Patrice De Puymorin participated by PIA Deputy Managing Director Salim Sayani, Corporate Planning Director Irshad Ghani, Airbus Middle East Sales Director Othman Ghedira, EADS International Development Middle East Vice President Pascal Lesaulnier and other senior officials of PIA.
The PIA MD appreciating the efforts of both the teams finalising the agreement said that PIA and EADS have a long relationship. It started with the induction of A300-B4 in early 80’s and was strengthened further by the purchase of A310 aircraft in 1991. ATR42-500, another product of sister concern of Airbus both working under the umbrella of EADS have added another knot to the ties.The purchase of these aircraft is an important step towards accomplishment of Business Plan 2020. As part of its Fleet Replacement Plan, PIA will acquire new narrow body aircraft in the coming months to replace its aging fleet. The airline has already signed an agreement in Islamabad on February 14 for the purchase of five fuel efficient Boeing Model 777-340ER with deliveries starting from 2015. – Dailytimes