747-300 Lease Aircraft?

Abdullah Saleem · Post by **Abdullah Saleem** » Mon Apr 03, 2006 7:44 pm

Salam
Is the Boeing 747-300 of PIA is a leased Aircraft.

behramjee · Post by **behramjee** » Mon Apr 03, 2006 7:57 pm

yes it was from 1999 till 2001 then PIA bought them from Cathay Pacific in 2001.

Abbas Ali · Post by **Abbas Ali** » Tue Apr 04, 2006 5:04 am

March 1999 - PIA signs the Letter of Intent (LoI) with Cathay Pacific for acquiring five Boeing 747-300s on two-year dry lease. First aircraft (AP-BFU) delivered to PIA in April 1999.

2001 - Lease agreement extended for a period of five years.

July 2002 - PIA signs deal to buy six Boeing 747-300s from Cathay Pacific, including five already on lease since 1999. Sixth aircraft (AP-BGG) delivered to PIA in November 2002.