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How PIA lost Rs 2.5 billion in a six months deal?

How PIA lost Rs 2.5 billion in a six months deal?

*KARACHI: The Federal Investigation Agency (FIA) has summoned formerPakistan International Airline (PIA) board of directors including formersecretary aviation in case of buying of PIA Premier Service aircraft onexpensive lease.*

Sources said the board members had given green light for buying Airbusplane from Sri Lankan Airlines on expensive lease.

PIA administration had to pay $8,000 per hour a day for six months for theaircrafts that were purchased on lease for its premier service. It hadpurchased the aircraft at a cost of over $19 million.

The national airliner also had to pay the salaries to its foreign staff andthe lease cost as well.

Sources said those who have been summoned include former secretary IrfanElahi, former secretary board Younis Khan and board members Aslam Khaleeq,Nazeer Ahmed, Ghayyasuddin and Yawar Ali.

They said the board members were informed about the possible financial lossfrom the service.

The Premier Service which was started on August 14, 2016 was halted inFebruary 2017. The service which continued for about six months incurredloss of more than 2.5 billion rupees.

The FIA has summoned the board members under inquiry number 2018/53 forrecording statements.

On Mar 3, 2017, PIA had returned the Airbus A-330 aircraft to Sri LankanAirlines that it was using for its premier services.