PIA - Pakistan International Airlines (PK, Islamabad International) says it plans to use wet-leased A330-300s to launch its new premier service operation on August 14 with flights to London Heathrow.
Airline CEO Bernd Hildenbrand was recently in Colombo to discuss the previously reported move to source the aircraft from SriLankan Airlines (UL, Colombo International) which has been struggling with surplus widebody capacity.
"With new aircraft, more professional crew and improved service standards, the new service aims at providing an altogether different experience to passengers," PIA said. "This service will go a long way in helping PIA regain its market share both domestically as well as internationally."
In the wake of a series of crippling strikes related to the planned privatization of the troubled national carrier in January this year, the Pakistani government announced plans to launch a new premium airline, Pakistan Airways (Karachi International), whose main focus will be on international flights.
The Pakistani government is obligated to privatize PIA as per the terms of a USD6.67billion Extended Fund Facility (EFF) signed with the International Monetary Fund (IMF) in 2013. Islamabad had planned to dispose of at least 26% of the loss-making airline by March though that date has now been pushed back to further on in the year.
Local paper, The Nation, reports that PIA officials this week approached Prime Minister Nawaz Sharif over a possible injection of PKR160 billion (USD1.5 billion) into the carrier needed to pay off debts owed to the Pakistan Civil Aviation Authority (PkCAA), fuel suppliers, and airports in Jeddah International and Riyadh. The approach to the PM came after government reportedly rejected the airline's initial request for assistance.
