PIA and Boeing announced a firm order for five 777-300 ER (extended range) planes worth about $1.50 billion at list prices on Monday.
A press release in this regard issued by PIA said that the order also includes purchase rights to PIA for five more 777-300ER. Based in Karachi, PIA has been renewing its long-haul fleet to accommodate an increased demand for air travel as well as to introduce new routes, the release revealed.
“With passenger traffic in our region accelerating, the new 777-300 ER airplanes will continue to deliver the highest standards of technology and comfort to our customers,” said PIA’s managing director Capt. Nadeem .
“The spacious 777-300 ER has been an integral part of our long-range fleet renewal program and its excellent operating economics, long range capability and reliability will allow us to expand into new long-haul markets,” Nadeem added but he did not say anything about the financial position of PIA for such a deal and whether it is advisable to invest more in sinking ship.
“We are proud that PIA is a special Boeing customer that continues to invest and trust in the industry-leading capabilities of the 777 family of airplanes,” said Boeing’s VP Sales (ME, Russia and Central Asia) Marty Bentrott.
Boeing’s director international sales Miguel Santos said the 777-300 ER will generate more revenue and carry additional payload.
With this order, the national carrier’s Boeing 777 fleet will grow to 14, including three 777-200ERs, two 777-200LRs and eight 777-300ERs. The airline currently operates scheduled services to 24 domestic destinations and 38 international destinations in 27 countries across Asia, Europe and North America.