Ex-Im Bank Financing PIA GE Engines Servicing Discussed

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Abbas Ali
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Ex-Im Bank Financing PIA GE Engines Servicing Discussed

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According to PTV News, in a meeting held in Islamabad today General Electric (ge.com) Chief Financial Officer, Global Growth & Operations, Shane Fitzsimons discussed with Pakistan's Finance Minister Ishaq Dar financing by Export-Import Bank (Ex-Im Bank) of the United States (exim.gov) for servicing/maintenance of PIA aircraft engines.

PIA Boeing 777 aircraft are powered by General Electric GE90 family engines.

Six Airbus A310-300 aircraft acquired by PIA in early 1990s are powered by General Electric CF6 family engines. At least three of those A310s (AP-BDZ, AP-BEG & AP-BEQ) have been seen active in recent days.

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Re: Ex-Im Bank Financing PIA GE Engines Servicing Discussed

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According to PTV News, 120 million US dollars financial assistance has been arranged for PIA by Citibank, Islamic Development Bank (IDB) and Export-Import Bank (Ex-Im Bank) of the United States.

The money will be used for overhauling/repairing General Electric engines of PIA aircraft.

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Re: Ex-Im Bank Financing PIA GE Engines Servicing Discussed

Post by Abdulrafeysiddiqui »

A310 registered as AP-BDZ isn't active. :D
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Re: Ex-Im Bank Financing PIA GE Engines Servicing Discussed

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^ AP-BDZ was active in November 2013 when this topic was started.

Sister ships of AP-BDZ might be using her CF6 engines now.

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Re: Ex-Im Bank Financing PIA GE Engines Servicing Discussed

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GE to overhaul PIA aircraft engines

AMIN AHMED


ISLAMABAD:
The General Electric (GE) entered into an agreement with Pakistan International Airlines (PIA) here on Wednesday to overhaul and carry out maintenance of the engines of PIA Boeing aircraft.

The United States Export-Import Bank (EXIM) will support the GE-PIA deal with financing of $55 million together with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). It will help PIA cover engine overhauls at GE aviation facility in Cardiff, Wales over the next four years.

US Ambassador Richard Olson hosted an event to commemorate the signing of the deal between PIA and the General Electric.

Finance Minister Ishaq Dar, Board of Investment Chairman Miftah Ismail, Special Assistant to the Prime Minister, Capt Shujaat Azim and others attended the ceremony.

“PIA has played a critical role in developing the aviation sector in Pakistan and GE has been proud to support its efforts for more than 40 years now through the provision of advanced, fuel efficient engines, overhaul services, financing to lease aircraft and now through this latest joint effort with the US EXIM Bank and ICIEC,” said Sarim Sheikh, President and Chief Executive Officer of GE Pakistan.

PIA Chairman Nasser Jaffer stated that “PIA is committed to improving and expanding its services to serve a larger passenger base across a greater number of destinations.”

Source: DAWN
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Re: Ex-Im Bank Financing PIA GE Engines Servicing Discussed

Post by Abbas Ali »

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General Electric GE90 turbofan engine of a PIA Boeing 777 - Photo by Aroosh Naqvi

Under the agreement General Electric GE90 engines of PIA Boeing 777 aircraft will be overhauled.
U.S. Government Commemorates $55 Million EXIM Financing to Refurbish PIA's GE Engines

Islamabad, May 20, 2015


U.S. Ambassador Richard Olson hosted an event for senior business and government officials today to commemorate $55 million in financing for a deal between General Electric (GE) and Pakistan International Airlines' (PIA) to refurnish their Boeing aircraft engines. The refurbishment will enhance overall engine performance of PIA's Boeing 777 fleet.

The United States Export-Import Bank (EXIM) will support the financing, representing EXIM's largest financing activity in Pakistan since 2006. Ambassador Olson said, "Today, GE and its joint venture engines power more than 60 percent of PIA's aircraft, and this deal to refurbish many of those engines will power PIA well into the future. Partnerships such as these go a long way towards connecting Pakistan with the rest of the world."

Ambassador Olson was joined by Federal Minister for Finance Ishaq Dar; Chairman Board of Investment, Dr. Miftah Ismail; Special Assistant to the Prime Minister, Captain Shujaat Azim; Vice Chairman GE, John G. Rice; Chairman Pakistan International Airlines, Nasser Jaffer; and Managing Director/Country Officer Citibank, Mr. Nadeem Lodhi.
Source: islamabad.usembassy.gov

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