PIA, Airbus sign aircraft agreement

Pakistan International Airline and Airbus signed an agreement for transfer of ownership of Six A310 aircraft which were acquired by the airline on lease in year 2004. Transfer of ownership of the six aircraft to National Flag Carrier is another step forward in implementing the business plan under vision 2020 and will help PIA save about $2 million monthly rentals which will help greatly in reducing its losses. The agreement was signed by PIA Managing Director Nadeem Khan Yousufzai and Airbus Director Asset Management Patrice De Puymorin participated by PIA Deputy Managing Director Salim Sayani, Director Corporate Planning Irshad Ghani, Airbus Sale Director Middle East Othman Ghedira, Vice President – International Development Middle East EADS Pascal Lesaulnier and other senior officials of PIA.
PIA MD appreciating the efforts of both the teams finalising the agreement said that PIA and EADS have a long relationship. It started with the induction of A300-B4 in early 80’s and was strengthened further by the purchase of A310 Aircraft in 1991. ATR42-500, another product of sister concern of Airbus both working under the umbrella of EADS have added another knot to the ties.