A Malaysian court has ordered the immediate release of a Pakistan International Airlines (PIA) plane that was held back at Kuala Lumpur airport nearly two weeks ago due to a British court case over the jet’s lease.
Malaysian authorities seized the Boeing 777 aircraft on January 15 after a court allowed an application by the plane’s lessor, Peregrine Aviation Charlie Limited, to keep it grounded pending the outcome of a $14m lease dispute with PIA in a United Kingdom court.
The Kuala Lumpur High Court ordered the immediate release of the plane on Wednesday after both sides said they had reached an amicable settlement to the dispute involving two planes leased to PIA, according to a lawyer representing the airline.
Tuesday, January 26, 2021, 09:00 GMT+7
A banner welcoming Vietnam’s 13th National Party Congress at 30-4 Park in downtown Ho Chi Minh City. Photo: Ngoc Phuong / Tuoi Tre
Here are today’s leading news stories:
Politics The 13th National Congress of the Communist Party of Vietnam officially opened in Hanoi on Tuesday morning, with the participation of 1,587 delegates. It is slated to conclude on February 2.
Society The Ministry of Health on Monday evening recorded one imported COVID-19 patient – a 47-year-old Vietnamese woman returning from Indonesia, raising the country’s tally to 1,549, with 1,425 recoveries and 35 deaths. One fisherman was killed while seven others have been brought to safety after their boat was allegedly hit and sunk by a cargo ship amid bad and foggy weather off Vietnam s north-central province of Nghe An early on Monday morning.
A Pakistan International Airlines (PIA)
passenger plane was
seized in Malaysia in mid-January due to a
legal dispute involving the airline and a UK leasing company.
The plane was held back in connection
with a case brought by leasing company Peregrine
Aviation Charlie Limited against PIA six
months ago in a UK court for not paying a leasing fee of US$14 million, according
to the Kuala Lumpur High Court.
Under an interim court order, PIA was
thus temporarily banned from flying two Boeing 777-200ER planes in its fleet until the next hearing on the issue later in January.
PIA has maintained that the overhead
Vietnam tightens rules on in-storage aircraft flightglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from flightglobal.com Daily Mail and Mail on Sunday newspapers.
Issuance plan propels flag carrierâs fortunes 06:44 | 20/01/2021
As Vietnam Airlines heads towards a new share issuance of nearly $350 million to boost its recovery in the summer, its only foreign investor is unlikely to see the spoils as the government will be in charge of snapping the shares up.
Vietnam Airlines was projected to have made losses of nearly $625 million last year
National flag carrier Vietnam Airlines is proceeding with its plan to issue VND8 trillion ($347.8 million) worth of shares for its existing stakeholders in a move to boost its recovery from the pandemic and return to profitability by 2023.
Vietnam Airlines chairman Dang Ngoc Hoa said the issuance would be completed by June and all capital raised will pay off outstanding debts. âWe have suffered from the worst crisis ever due to restrictions of governments around the world to curb the spread of the virus,â Hoa said.