Jul 17, 2017

Sri Lankan Airlines to get US$2m soon from PIA

Pakistan International Airlines (PIA) is set to remit  around US$2 million

shortly  to Sri Lankan Airlines as delayed payments and lease installments inclusive of extra flying hours of A 330 Aircraft wet leased to Pakistan’s national carrier in August last year.

The lethargic Sri Lankan Airlines management headed by CEO Suren Ratwatte once in a while made request to get the balance money but they are not pushing hard to get it, an official said adding that the aircraft flew more than the contracted number of hours per month incurring additional payments for the national carrier.

PIA’s decision to pay the balance payment of $2 million comes at a time where the Prime Minister Ranil Wickremesinghe reportedly promised to sack the entire board of directors of the national carrier for the down fall of the national carrier due to inefficient and lethargic management.

Federal Investigation Agency of Pakistan’s Investigation is still continuing Into the  malpractices and corruption over a wet lease deal with SriLankan in which PIA spent $19 million to lease an Airbus A330 for 6 months in ‘the most profitable deal SriLankan ever had’, Official sources said.

Pakistan International Airlines used the plane and SriLankan crew to offer a service between Islamabad and London Heathrow, losing $14 million during the brief lease, these sources added.