The grounded PIA Plane gets a huge relief

Lahore, 27th January: The Pakistan International Airline’s plane that was seized at the Kuala Lumpur Airport a few days ago over lease dispute has been released by the Malaysian court.

Baaghi TV: A Malaysian court has ordered the immediate release of a PIA plane that was held in Malaysia two weeks back due to a British court case over the jet’s lease.

As per earlier reports, Malaysian authorities seized the Boeing 777 aircraft on Jan 15 after a court allowed an application by the plane’s grantor company, the Peregrine Aviation Charlie Limited, to keep it grounded after an amount of $14 million was pending.

According to a lawyer representing the airline, the Kuala Lumpur (KL) High Court ordered the immediate release of the plane after both sides reached a harmonious settlement to the dispute, involving two planes leased to PIA.

PIA counsel Kwan Will Sen said, “Peregrine has agreed to withdraw its suit against PIAC (Pakistan International Airlines Corp) and for the orders to be set aside. With this, the two Boeing aircraft operated by PIAC would be released with immediate effect.”

The two jets were leased to the PIA by the UK-based worlds largest aircraft lessor, AerCap, in 2015.

As per reports, AerCap, which still provides lease management services to Peregrine, has refused to make any comment on the case.

Even the lawyers representing Peregrine did not make an immediate response to a request for comment.

Stay tuned to Baaghi TV to read further updates!