Pakistan International Airlines (PIA) is in talks to settle out of court $2 million in outstanding aircraft lease payments in relation to two Boeing 777s managed by AerCap.
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KUALA LUMPUR A Malaysian court ordered on Wednesday the immediate release of a Pakistan International Airlines (PIA) plane detained in the Southeast Asian nation nearly two weeks ago over a British court case about its lease.
Malaysia seized the Boeing 777 aircraft on Jan. 15 after a court allowed an application by lessor Peregrine Aviation Charlie Limited to keep it grounded until the result of a $14-million lease dispute with PIA in Britain.
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The Kuala Lumpur High Court ordered the release after both sides said they had reached an amicable settlement of the dispute, involving two planes leased to PIA, a lawyer for the airline said.
Malaysia releases PIA plane seized over payment dispute
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A plane of Pakistan International Airlines.
Malaysian authorities seized the Boeing 777 aircraft on Jan 15 after a court allowed an application by the plane s lessor.
The Kuala Lumpur High Court ordered the immediate release of the plane after both sides said they had reached an amicable settlement
The jet was leased to PIA by Dublin-based AerCap , the world’s largest aircraft lessor, in 2015.
KARACHI: The Malaysian authorities have released the Pakistan International Airlines (PIA) plane which was seized after the national flag carrier failed to clear the dues of the leasing firm.
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ISLAMABAD/KUALA LUMPUR (Reuters) - A Pakistan International Airlines plane has been held back by Malaysian authorities due to a British court case over the jet’s lease, the airline said on Friday, adding it would pursue the matter through diplomatic channels.
The Boeing 777 aircraft was seized after a court order, an airline spokesman said, and alternative arrangements were being made for passengers due to fly from Kuala Lumpur back to Pakistan.
The case involved a $14 million lease dispute, a PIA official said.
“A PIA aircraft has been held back by a local court in Malaysia taking a one-sided decision pertaining to a legal dispute between PIA and another party pending in a UK court,” a PIA spokesman Abdullah H. Khan said in a statement.
Grounded PIA plane released by Malaysian court
Islamabad, Jan 17(UNI) A Malaysian court on Wednesday ordered the release of a Pakistan International Airlines (PIA) plane that had been grounded in the Southeast Asian country for nearly two weeks due to a British court case over the jet s lease.
Malaysian authorities had 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 $14 million lease dispute with PIA in a UK court, Dawn reported.
The Kuala Lumpur High Court ordered that the plane be released immediately after both sides said they had reached an amicable settlement involving two planes leased to PIA.