SriLankan enters into “wet lease” agreement with PIA

12 August 2016 12:00 am

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 & 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 14th 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.