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SriLankan Airlines says aircraft lease to PIA ‘most profitable’

ECONOMYNEXT – SriLankan Airlines said a ‘wet lease’ of an Airbus A330-300 aircraft to Pakistan International Airlines (PIA) under which it gave both the aircraft and the crew had been the most profitable deal done by the national carrier recently.

The aircraft, given for six months on Aircraft, Crew, Maintenance and Insurance (ACMI) basis, will rejoin the SriLankan fleet after it is repainted in the national carrier’s livery within the next couple of weeks, a statement said.

It gave no financial details of the deal.

“This contract was the most profitable commercial agreement undertaken by SriLankan in the recent past,” SriLankan Airlines chief executive Suren Ratwatte said.

“It has helped to uplift the bottom line of the company at a time when we are facing significant challenges in our efforts to transform the financial fortunes of our airline and return it to profitability.”

Ratwatte said the ACMI deal helped PIA to enhance the product offered and launch the ‘Premier Service’ brand on the key Pakistan to London service.

“We look forward to further commercial agreements with PIA and thank them for the opportunity,” said Ratwatte.
(COLOMBO, Feb 09 2017)

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