News Karnataka
Saturday, December 09 2023

PIA pays $7mn after plane seizure in Malaysia

Photo Credit :

pia plane 23012021Islamabad: The Pakistan International Airlines (PIA) confirmed that it has paid around $7 million to a jet company after a plane of the flag carrier was seized by Malaysian authorities over the non-payment of aircraft lease dues, the media reported on Saturday.

On Friday, the PIA informed the London High Court that it paid the amount to Peregrine Aviation Charlie Ltd in the case pertaining to two jets leased to it by the Dublin-based AerCap, reports Geo News.

The court was told that the PIA did not make payments since it asked for the amendment of its claim last July and that it owed $580,000 per month to the airliner.

The litigation was initiated due to non-payment.

The leasing company had filed a case against PIA at the London High Court in October 2020 over its failure to pay the leasing fee worth about $14 million, which had been pending for six months.

As soon as the company received the information of the PIA flight 895’s scheduled landing in Malaysia, it appealed to a local court to seize the aircraft as per the international civil aviation leasing laws, sources added.

The Boeing 777 aircraft was then seized on January 15 after the London High Court issued the order.

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Editor's Pick

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp