PIA to induct four aircraft into its fleet

(Karachi) The Pakistan International Airlines (PIA) has decided to induct four fuel-efficient aircraft into its fleet, reported Aaj TV on Thursday, adding that the national carrier will lease the planes for six years.

The national airline, which has embarked on a cost-cutting journey as it flies out a pandemic-hit year, will lease the new Airbus 320 aircraft for short-haul flights. This will take its overall fleet capacity to 34 aircraft. The move undoubtedly comes as the carrier focuses on domestic routes, and short-haul journeys.

According to reports, the new narrow-body planes would replace two old Boeing 777s.

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The first Airbus 320 is likely to arrive in Pakistan in mid-July, the second in August, whereas the third and fourth will arrive in October and December, respectively.

PIA reported a loss of Rs7.52 billion in the three-month period between January-March 2021, a massive reduction of 55.5% year-on-year that came on the back of an exchange gain and reduction in finance costs. Its losses during the 12-month period between January and December of 2020 stood at Rs34.5 billion.

The state-owned airline carrier remains in frequent need for a government bailout, and constantly embarks on various cost-cutting strategies to ease its burden.

PIA to complete its business plan in 3 months: CEO

Earlier this month, PIA CEO Air Marshal Arshad Malik said the airline is going to complete its business plan in three months.

He said that the airline's business plan was being formulated by the International Air Transport Association on the instructions of the government and it would be completed in three months, adding that PIA was going to induct narrow body aircraft in its fleet and was in the process to return the aircraft ATR 72 aircraft which were acquired many years ago on expensive lease.