PIA to Return ATR 72 Aircraft to Leasing Company

Discuss issues and news related to PIA, Pakistani airlines and Pakistan's civil & military aviation.
User avatar
Abbas Ali
Site Admin
Posts: 52157
Joined: Thu Aug 05, 2004 6:52 pm
Location: Pakistan

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by Abbas Ali »

In August 2014, advertisement given to acquire up to five turboprop aircraft on dry lease for eight years.

Image

In year 2015, a total of five dry leased ATR 72-500 aircraft registrations AP-BKV, AP-BKW, AP-BKX, AP-BKY and AP-BKY joined PIA fleet.

Image
Arrival of PIA ATR 72-500 construction number 1029 registration F-WNUE / AP-BKZ at Jinnah International Air Port (JIAP) - Karachi on April 11, 2015.

Abbas
Dil Dil Pakistan... Jaan Jaan Pakistan

See you at:
Image
User avatar
baasim
Registered Member
Posts: 65
Joined: Wed Mar 09, 2011 9:46 am
Location: Karachi

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by baasim »

Apparently AP-BKX performed a flight on Feb 09, 2021 from LYP to KHI as PK341.

https://www.flightradar24.com/data/aircraft/ap-bkx
Image
User avatar
Abbas Ali
Site Admin
Posts: 52157
Joined: Thu Aug 05, 2004 6:52 pm
Location: Pakistan

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by Abbas Ali »

Apparently, PIA ATR 72-500 registration AP-BKX is active and has performed flights from & to Karachi.

https://www.flightradar24.com/data/aircraft/ap-bkx

Abbas
Dil Dil Pakistan... Jaan Jaan Pakistan

See you at:
Image
User avatar
Abbas Ali
Site Admin
Posts: 52157
Joined: Thu Aug 05, 2004 6:52 pm
Location: Pakistan

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by Abbas Ali »

During year 2020, Pakistan International Airlines Corporation Limited (PIACL) terminated lease of ATR 72-500 registration AP-BKY resulting in gain on lease termination of PKR 368.640 million. Accordingly PIACL has derecognized the Right of Use Asset (RoUA) and lease liability amounting to PKR 413.696 million and PKR 782.336 million respectively.

Furthermore, lease of two engines was also terminated during the year 2020 resulting in gaining of PKR 73.208 million. Accordingly, PIACL has derecognized RoUA and lease liability of PKR 177.561 million and PKR 250.769 million.

Image
Source: PIA Annual Report - Year 2020

Abbas
Dil Dil Pakistan... Jaan Jaan Pakistan

See you at:
Image
User avatar
Abbas Ali
Site Admin
Posts: 52157
Joined: Thu Aug 05, 2004 6:52 pm
Location: Pakistan

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by Abbas Ali »

Former PIA ATR 72-500 registration AP-BKY seen parked at Solenta Aviation facility at Johannesburg O. R. Tambo International Airport, South Africa, on May 3, 2021.

Photo link: https://flic.kr/p/2kZsS3M

Abbas
Dil Dil Pakistan... Jaan Jaan Pakistan

See you at:
Image
Usman123
Registered Member
Posts: 213
Joined: Sun Sep 05, 2021 12:35 pm

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by Usman123 »

Why are the 3 remaining Atr 72s still with PIA they were to be returned to lessors
ammad
Registered Member
Posts: 1710
Joined: Sat Dec 17, 2005 10:52 am
Location: San Francisco. C.A.

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by ammad »

These Aircraft are acquired in 2015 and for 8 years lease, which will last till mid of 2023 i guess.

These Aircraft are not earning any revenue and operating them might drain even more revenue since mostly ATR flights are not making reasonable revenue.

I think PIA is waiting for the lease term to expire so that it can be returned back to lessor, which seems ok.

In my opinion 2023 should be the year to get rid of ATR-72, and in 2024 PIA should get rid of ATR fleet altogether. And they need to see how they can add 5 A220 as perfect replacement of ATR. CAA needs to make sure that all regional Airports in Pakistan should be able to handle A220 operation.
Fortune favours brave.
Usman123
Registered Member
Posts: 213
Joined: Sun Sep 05, 2021 12:35 pm

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by Usman123 »

Good suggestion but A220 is very new plane and seems expensive for PIA
GEnx
Registered Member
Posts: 181
Joined: Fri Apr 25, 2014 11:52 am
Location: Karachi

Re: PIA to Return ATR 72 Aircraft to Leasing Company

Post by GEnx »

Usman123 wrote: Sat Oct 22, 2022 2:03 pm Good suggestion but A220 is very new plane and seems expensive for PIA
What should be PIA's priority right now is to get more and more A320neos for regional routes and A321LR or XLR variants for UK/European destinations. Then, PIA should focus on replacing wide body B777s. I think, the best replacement for B777s would be a mix of A321XLR and a wide body jet (Can be B787 or A330neo). If PIA intends to then add another aircraft type, then A220 and E jets E2 would be perfect. Although both aircraft are nearly of the same size, they have very different specs when it comes to range and MTOW with A220 being a higher weight and long range jet compared to E jet E2s. It would be up to PIA to decide then which aircraft would be more suitable for the planned routes.

That being said, I would say that PIA has really missed the opportunity by not ordering A320neos in time. The backlog is so high now, that it would take years to get delivery now. And considering the political and economic situation of the country, I fear that it will only be getting worse for PIA. They should have sold the hotel in good times and in exchange for new planes.