Pakistan is exploring financing options for Pakistan International Airlines’ fleet modernization as the government advances plans to outsource the management of major airports, Finance Minister Muhammad Aurangzeb said after meeting Boeing Global President Dr. Brendan Nelson in New York.
The meeting focused on PIA’s plans to acquire new aircraft, with Boeing confirming that it would share a revised proposal with the airline. Options for securing earlier delivery slots and using interim leasing arrangements were also discussed.
A key part of the discussions was financing support from the US Export-Import Bank for PIA’s aircraft acquisition plans. The sides also discussed engine procurement, spare parts, aircraft maintenance and the restoration of grounded aircraft.
Aurangzeb briefed Boeing on PIA’s privatization and the government’s plans to outsource the management of major airports. He also highlighted Pakistan’s long-term aviation growth potential and appreciated Boeing’s support for aviation safety capacity and regulatory engagement.
The Finance Minister also welcomed Boeing’s engagement on the restoration of direct flights between Pakistan and the United States.
The discussions come as PIA moves to expand its fleet for international operations. The airline’s board has separately approved two Boeing 777 aircraft on a six month wet lease from European airline Norse Atlantic and three additional aircraft on dry lease, according to sources.
The government’s aviation strategy therefore combines fleet modernization, interim leasing arrangements and private sector participation in airport management, while financing remains a key part of efforts to expand PIA’s international operations.
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