Pakistan

PIA to wet-lease three planes costing $12.5 mn per year

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ISLAMABAD: Pakistan International Airlines (PIA) will acquire three Airbus A330 planes on wet-lease basis on exorbitant rates costing the cash-strapped national airline $12.5 million per year.

The PIA will start its premier service from 14th August from Islamabad to London for which the planes have been leased from the United Kingdom. According to reports, the Board of Directors have expressed huge concerns over the deal.

The PIA will pay 8000 dollars per hour for each plane, which amounts to $4.07 million per year. This amounts to an estimated cost of $12.5 million annually.

The planes will be used for eleven flying hours per day, and PIA will have to pay $88,000 dollars daily for each plane which amounts to  $268,000 per day.

 

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