PIA Aircraft Fleet and Engines to Undergo Revaluation Process

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Abbas Ali
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PIA Aircraft Fleet and Engines to Undergo Revaluation Process

Post by Abbas Ali »

Pakistan International Airlines Corporation Limited (PIACL) has invited bids from independent valuation firms for revaluation of airline's aircraft fleet and engines.

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Aircraft Type: Boeing 777-200ER
Operational Aircraft: 3
Number of Engines Installed: 6
Spare Engines: 2

Aircraft Type: Boeing 777-200LR
Operational Aircraft: 2
Number of Engines Installed: 4
Spare Engines: 1

Aircraft Type: Boeing 777-300ER
Operational Aircraft: 3
Number of Engines Installed: 5
Spare Engines: 2

Aircraft Type: ATR 42-500
Operational Aircraft: 4
Number of Engines Installed: 9
Spare Engines: 6

Total Operational Aircraft: 12
Number of Engines Installed: 24
Spare Engines: 11

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The valuation will be carried out on the following basis:
  1. The valuation will involve a maintenance-adjusted current market valuation of fleet and spare engines.
  2. The valuation will be broken down by its two major components, as mentioned above, separately i.e. aircraft and engines.
  3. The valuation will also cover future value projections for each aircraft and engines individually under both constant and inflated scenarios.
  4. The valuation will further cover residual value of each aircraft and engines individually at the end of their useful life.
  5. Useful economic lives of above aircraft and engines will also be assessed.
  6. Forced/Distress sale values of aircraft and engines portfolio.
Info Source: PIA

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Abbas Ali
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Re: PIA Aircraft Fleet and Engines to Undergo Revaluation Process

Post by Abbas Ali »

Number of installed engines appear as five for three Boeing 777-300ER. Reportedly, AP-BHW is stored at Karachi Airport without an engine.

Strangely, number of installed engines appears as nine for four ATR 42-500.

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Airbus A320 and ATR 72-500 aircraft are not included in revaluation process because they are on dry lease to PIA.

Dry leased Boeing 777-200ER (AP-BHX, AP-BMG, AP-BMH) and Boeing 777-300ER (AP-BMS) also not included for same reason.

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TAILWIND
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Re: PIA Aircraft Fleet and Engines to Undergo Revaluation Process

Post by TAILWIND »

Abbas Ali wrote: Thu Nov 12, 2020 11:47 am Number of installed engines appear as five for three Boeing 777-300ER. Reportedly, AP-BHW is stored at Karachi Airport without an engine.

Strangely, number of installed engines appears as nine for four ATR 42-500.

Abbas
I was also thinking same, Generally spares engines, for a large fleet (over 20 acft) are 10% of the on-wing population. Still for 4 x ATR42, 2 engines should have been sufficient.
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Abbas Ali
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Re: PIA Aircraft Fleet and Engines to Undergo Revaluation Process

Post by Abbas Ali »

Tender notice in November 14 newspaper:

Aircraft Fleet Valuation

PIA intends to invite sealed bids from independent valuation firms in relation to an assignment of revaluation of its aircraft fleet which includes desktop revaluation for incorporation of revalued amount in its books of accounts.

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Abbas Ali
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Re: PIA Aircraft Fleet and Engines to Undergo Revaluation Process

Post by Abbas Ali »

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Lowest evaluated bidder is International Bureau of Aviation (IBA) - https://www.iba.aero/

Info source: PIA

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