KARACHI: Pakistan International Airlines (PIA) is set to receive A330 aircraft this month from Turkish Airlines for its premier flights to London following the expiry of wet lease of an aircraft of the same make from SriLankan Airlines, sources say.
PIA has awarded a tender to Turkish Airlines through competitive bidding. It has agreed to provide the Airbus at a rental value that is 25% less than the rate at which aircraft was leased from SriLankan Airlines in mid-2016.
Turkish Airlines would charge $6,000 per hour compared to $8,100 per hour by SriLankan Airlines, it was learnt.
PIA Chief Financial Officer Nayyar Hayat said that PIA had acquired A330 on wet lease – aircraft with crew – from SriLankan Airlines for a period of six months. “[The] agreement has expired,” he said.
The agreement ended in the first half of February 2017.
“We could not extend the agreement as per PPRA [Public Procurement Regulatory Authority] rules and that’s why a new tender was issued,” said Hayat.
Besides, the national aviation policy also bars the national carrier from acquiring an aircraft on wet lease for more than six months.
Sources said three airlines participated in the recent tender in which Turkish Airlines won the bid. The other two were SriLankan Airlines and Portuguese chartered carrier Hi Fly. Earlier, sources said PIA had booked colossal losses in its premier services due to the lease of aircraft from SirLankan Airlines at a much higher rate.