14 more aircrafts to be added in PIA’s existing fleet, says Aviation Minister
- Aviation Minister said that due to good governance, and wise decisions the revenue of PIA increased by 45 percent.
- He also informed reporters that the planes would not be wet or dry leased but would be purchased instead.
- The existing fleet of the national flag-carrier would be increased in phases to about 45 planes, he said.
The incumbent ruling elite is committed to increasing the number of planes to the PIA fleet within the next four years. In an earlier announcement, the premier approved the purchase of two more planes and to make them part of the existing fleet of PIA by the end of this year.
Federal Minister for Aviation in a media talk revealed to have developed a business plan for the airline under which the number of PIA planes would increase from the existing 31 to 45, reported by Dawn. The aviation minister informed that the planes would not be wet or dry leased but would be purchased instead.
Minister said that due to good governance, and wise decisions the revenue of PIA increased by 45 percent. The minister also told that, currently, the national flag carrier is operating 31 planes on both national as well as international routes and its existing fleet would be increased in phases to about 45 planes.
Mr. Sarwar also hinted that two airbuses would be added to PIA apart from four planes including two ATRs which were grounded on the technical basis will also be made operational.
What is a dry lease?
A dry lease is a long term arrangement under which an aircraft is given without crew, maintenance and insurance to the company or organization. Whereas the payment for the aircraft that is dry leased is made on a monthly or yearly basis. The legal ownership of the aircraft remains with the leasing company and the receiving airline operates the aircraft with its own resources.
A wet lease is like a short-term agreement in which a company provides an aircraft along with the crew, maintenance, and insurance. As far as the payment criteria is concerned it is based on the hours for which the aircraft remains operational.
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