PIA agrees to buy eight Boeing 777s!

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KARACHI, Oct 30 (Reuters) - State-run Pakistan International Airlines PIAa.KA signed an agreement on Wednesday with Boeing Co BA.N to buy eight Boeing 777 passenger aircraft.

An airline statement, issued following a signing ceremony in the port city of Karachi, said the aircraft deliveries would begin in February 2004 and continue until 2008.

The aircraft purchase is a part of a $2 billion fleet development plan PIA has announced for the period until 2008.

"The order includes three 777-200ER (extended-range), two 777-200LR (longer-range) and three 777-300ER (extended-range) aeroplanes for use of PIA's long-haul routes," the statement said.

In August, the Pakistani government approved a financial package totalling $150 million to launch the plan.

PIA has said it decided on the fleet modernisation after positive signals from the finance ministry about funding from the U.S. Export-Import Bank.

Pakistan has been eligible for finance from Eximbank since Washington lifted sanctions last September in return for Islamabad's support for the U.S.-led war on terrorism.

The airline also bought six used passenger planes from Cathay Pacific Airways Ltd 0293.HK in June at a total price of $63 million.

PIA is the biggest airline in Pakistan, with over 40 planes and 22,000 employees. PIA's share prices gained 1.50 rupees to close at 9.60 rupees on Wednesday at the Karachi Stock Exchange.

The agreement was signed by airline Managing Director Ahmed Saeed and Boeing Co Director of International Sales Miguel Santos, PIA said.
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link: http://www.reuters.com/news_article.jhtml?type=search&StoryID=1656092

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Profile picture for user Hand87_5

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RE: PIA agrees to buy eight Boeing 777s!

At last some good news for Boeing ....!

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RE: PIA agrees to buy eight Boeing 777s!

Dont count on it..... PIA can hit a speedbreaker whenever it wants.

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RE: PIA agrees to buy eight Boeing 777s!

[updated:LAST EDITED ON 31-10-02 AT 04:25 PM (GMT)]Good to see the confirmation of a fleet renewal plan from them.They really do need some new aircraft as the fleet is ageing rapidly.
Should we be expecting Air India's plans soon? :9

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RE: PIA agrees to buy eight Boeing 777s!

What does the current PIA fleet consist of?

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RE: PIA agrees to buy eight Boeing 777s!

12 * f27's
2* 707's
7* 742's
8 *A300's
5 *733
2 *DH6
6 * A310's
5 *743's

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RE: PIA agrees to buy eight Boeing 777s!

The 707s are freighters and prob retired now?

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RE: PIA agrees to buy eight Boeing 777s!

Gawd, what a mixed bag!

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RE: PIA agrees to buy eight Boeing 777s!

Yep the 707's have been stored. :( PIA does certainly have a mixed, i agree.

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RE: PIA agrees to buy eight Boeing 777s!

Both B707 were converted to F, one was disposed of and one is stored in karachi at the planetarium.

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RE: PIA agrees to buy eight Boeing 777s!

Er.....I dont think the above is correct, sorry!

If you go to the PIA homepage you can check out the fleet!

http://www.piac.com.pk/fleet.htm

5 747-300 (1 more being leased from Cathy)
7 747-200
7-737-300
9 A-300
6-A310
13-F-27's (looking to replaxce these with ATR-72's)
2 Twin Otters (God knows what we use these for!)
And of course 8 shiny 777's on order!

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RE: PIA agrees to buy eight Boeing 777s!

Pakistani i think the Twin Otters are used to ply on the routes in the mountanious areas...dont know exactly.

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RE: PIA agrees to buy eight Boeing 777s!

Kabir
I flew in F-27 to the Northern areas, so was just wondering what the Otters were for, I see them occasionally parked in the PAF part of Islamabad airport when I visit Pakistan, next to the C-130's of No6 SQD.

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Awesome info PIA is really agree to buy eight boeing 777s

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