SriLankan Airlines enters into wet-lease agreement with PIA

Friday, 12 August 2016 00:01 - - {{hitsCtrl.values.hits}}

SriLankan Airlines has entered into a ‘wet lease’ agreement with Pakistan International Airlines (PIA), owned by the government of Pakistan, whereby an Airbus A330-300 aircraft will be leased by SriLankan to PIA on Aircraft Crew Maintenance and Insurance (ACMI) basis.

This means that the aircraft will remain under SriLankan registry and be flown by SriLankan’s pilots on behalf of PIA, on the ‘Premier Service’ routes between Pakistan and the UK for a period of three months.

The inaugural flight of this operation will take place on 14 August, from Islamabad to London, following a brief ceremony headed by the Prime Minister of Pakistan Nawaz Sharif. The government of Pakistan and PIA have invited a delegation from Sri Lanka, including Kabir Hashim the subject Minister for the airline to attend this event.

Currently, SriLankan is in negotiations with PIA with regard to leasing a total of three aircraft on ‘dry-lease’, without crew, in the coming months. This is part of the company’s ‘red to black’ campaign to bring the airline back to profitability by exploring all commercially viable avenues.

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