PIA acquires 5 ATR-72 aircraft on dry lease for eight years

KARACHI: Pakistan International Airlines (PIA) has acquired five French-built ATR-72 aircraft, each with a capacity of 66 seats, on dry lease for a period of eight years, PIA Spokesman Muhammad Aamir Memon said.
The first of the batch arrived at the Jinnah International Airport on Saturday.
The remaining four ATRs will join the PIA fleet by the end of May, he said, adding, with the induction of the aircraft, the total number of ATR aircraft in the PIA fleet will rise to 11.
PIA is in the process of undertaking a revival plan and is inducting latest, state-of-the-art aircraft to its fleet, the spokesman said, adding the fuel-efficient aircraft will greatly benefit the airline in terms of fuel efficiency and savings.
Meanwhile, PIA Chairman Nasser NS Jaffer inspected the ATR-72 aircraft on its arrival at the Jinnah International Airport. PIA Managing Director Shah Nawaz Rehman and other senior officials were also present on the occasion.
Jaffer said the PIA would now be in a better position to offer more flights.
The fuel-efficient ATR aircraft were planned for deployment on domestic / feeder routes, as well as some international short-haul sectors, he said.
He instructed the officials concerned to speed up the necessary formalities so that the aircraft could be deployed for operation without any delay.
The PIA chairman thanked Prime Minister Nawaz Sharif and Special Assistant to the Prime Minister on Aviation Shujaat Azeem for their cooperation in the induction of the aircraft in the PIA fleet.
The PIA spokesman said the ATR has a capacity of 70 seats and will be operated with an all-economy class configuration.
With the increase in the number of aircraft in the PIA fleet, the airline will be in a position to offer additional flights and also increase flight frequency on existing profitable routes, he added.
The Board of Directors of the airline had approved the purchase of five ATR-72 aircraft in October 2014 and it was to be delivered by December the same year.
According to PIA officials, the airline will have 11 ATRs, 13 A320s and nine 777s during 2015.
An official said efforts are being made to improve the air carrier’s finances and the airline management during the first six months of the current calendar year had managed to slash PIA losses by Rs10 billion (44 percent) as compared to the losses in the corresponding period last fiscal year.
“The losses for the first six months stand at Rs8 billion, while we have gained an operational profit of Rs338 million so far,” the official said.
The management had reduced 200 foreign posts, he said, adding, the reduction would continue gradually and all foreign posts, where PIA flights were low, would be abolished and sale agents would be given responsibility.
“The PIA management has closed down all loss making routes, including Amsterdam and Frankfurt, which were causing a loss of Rs461 million to the airline,” the official added.