Pakistan International Airlines pays $7mn after plane seizure in Malaysia

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The Pakistan International Airlines (PIA) confirmed that it has paid around $7 million to a jet company after a plane of the flag carrier was seized by Malaysian authorities over the non-payment of aircraft lease dues, the media reported on Saturday.</p>
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On Friday, the PIA informed the London High Court that it paid the amount to Peregrine Aviation Charlie Ltd in the case pertaining to two jets leased to it by the Dublin-based AerCap, reports Geo News.<br />
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The court was told that the PIA did not make payments since it asked for the amendment of its claim last July and that it owed $580,000 per month to the airliner.<br />
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The litigation was initiated due to non-payment.<br />
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The leasing company had filed a case against PIA at the London High Court in October 2020 over its failure to pay the leasing fee worth about $14 million, which had been pending for six months.<br />
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As soon as the company received the information of the PIA flight 895's scheduled landing in Malaysia, it appealed to a local court to seize the aircraft as per the international civil aviation leasing laws, sources added.<br />
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The Boeing 777 aircraft was then seized on January 15 after the London High Court issued the order.</p>
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<em>(IANS)</em></p>
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