Pakistan International Airlines (PIA) has started selling its old and out of service equipment to clear its backyard. In the first phase, PIA has sold 5 engines of Airbus A-310 aircraft and earned Rs. 270 million.
A PIA spokesperson told ProPakistani that sold engines were 25 to 30 years old. The airline completed all necessary legal requirements under PPRA rules and sold these engines with complete transparency.
“The proceeds from the sale of these 05 engines will be utilized by PIA Engineering Division to enhance the capability and development of infrastructure of the Engineering Department.” PIA spokesman concluded.
Controversial Airbus Sale
After the controversial sale of a PIA Airbus A-310 aircraft to German Museum, sale of junk and old equipment was halted. The plane was sold for $50,000 (47,500 Euros) which is a fraction of its actual price.
With the sale of these engines, PIA has restarted the process.
Equipment Worth Billions
Sources told ProPakistani that PIA has billions of Rupees worth of outdated equipment stocked up. This includes old aircrafts, vehicles and other equipment. Sale of this equipment will not only provide much needed liquidity to the airline, it will also improve the age of its inventory.