Incoming news of Malaysia seizing Pakistan Airlines-PIA aircraft at Kuala Lumpur airport over a lease dispute. This is the second time, a Boeing 777 aircraft which had been acquired by PIA on lease from Malaysia, being seized due to unpaid dues of $4 million
A local Malaysian court issued the order to take the national carrier’s aircraft because $4 million was unpaid..
A PIA plane has been impounded at the same location twice. It used to be stopped from taking off when the passengers boarded the aircraft. To ensure payment of the debt and obtain approval for the flight, Pakistan employed diplomatic channels at the time.
Using an aircraft that has been leased from the lessor for a specific amount of time and over an aircraft. The airline must guarantee timely payment in accordance with the contract. The majority of aircraft operated by airlines in India, including Spice Jet, Go Air, and Indigo Airlines, are leased.
However, failing to make the required payments on time will put the government in a precarious position.. After the plane was seized, the PIA sent a second plane to Kuala Lumpur to pick up the Pakistani passengers and crew who were stuck in Sri Lanka as a result of the incident.
The engine leasing company had misled to get the stay order, a PIA representative told the reporters, but the Boeing 777 was still their property. He stated that the debt had been settled by the PIA. The national carrier has asked the Malaysian court to hear the matter, the spokeswoman said.