The matter of the Pakistan International Airlines (PIA) Boeing 777 aircraft, which was stopped by a court order in Kuala Lumpur, the capital of Malaysia, has not yet been resolved.
PIA’s Boeing 777 aircraft has been under judicial custody at the Kuala Lumpur Airport since May 29. The national airlines are losing millions of dollars daily due to the grounding of the aircraft.
PIA leased an engine for its Boeing 777 aircraft from Aircap, an Irish leasing company, and there is a dispute between PIA and the leasing company over the lease fee for this engine.
A PIA spokesperson says that the fee is $1.8 million that has been paid to the leasing company while the company is demanding $4.5 million, which is not correct according to PIA.
The leasing company obtained an injunction against PIA from the Malaysian court and took custody of the PIA aircraft arriving in Kuala Lumpur.
The spokesman expressed his surprise that neither the company nor the plane nor the contract was made in Malaysia, yet the Malaysian court ordered the plane to be intercepted.
PIA sources revealed that PIA has also leased 6 Airbus A320 aircraft from the leasing company that owns the Boeing 777 aircraft and PIA pays the company $30 million annually as lease fees for these aircraft. she does.
PIA has been working with this company since 2015, and has never defaulted, the spokesperson said.
On the other hand, the sources revealed that during the meeting with PIA, the owner of the leasing company said that he is worried about the economic and political situation in Pakistan and he is afraid of Pakistan defaulting, so the leasing company wants that now P IA should make prepayment of lease fee instead of post payment.
According to the PIA spokesman, the matter has been settled with the leasing company, but the stay order is not ending due to the absence of a court hearing.
A PIA spokesperson says that another attempt will be made to schedule a hearing from the Malaysian court on Friday.
However, sources said that the release of the PIA plane, which has been grounded since May 29, is not possible this week.
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