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Sri Lanka's national airline may lease four planes to PIA

Fayyaz Hussain 10:32 PM | 21 Jul, 2016
Sri Lanka's national airline may lease four planes to PIA
COLOMBO - Sri Lanka's national airline is in talks with Pakistan International Airlines to lease four of its Airbus A330 planes to the Pakistani national carrier.

State-owned SriLankan Airlines is aiming to reduce its debt and is looking for an international partner to help reverse years of losses, Kabir Hashim, Minister of Public Enterprise Development, told reporters in Colombo.

“A team from the airline is in Pakistan for negotiations. We will lease one A330 next month on wet lease,” Kabir Hashim said. He also said SriLankan Airlines would lease three more A330s “in the next few months”, but did not discuss the type of lease.

The airline, which has taken on seven Airbus A330-300s since 2012, has debts of around $3.25 billion.

Hashim said the airline paid around $450,000 dollars a month to lease each A330 and was looking to lease the aircraft to the Pakistani carrier “even at a break even” level.

The aircraft to be leased were used on loss-making routes to cities such as Frankfurt, Paris, and Rome, which SriLankan Airlines has decided to cancel, he said.

A PIA official confirmed the company was in negations with SriLankan.

“Sri Lanka and Pakistan are in negotiations, a Pakistani team visited Colombo but the deal hasn't been sealed,” the official said, speaking on condition of anonymity as he was not authorized to talk to media about the deal.

No SriLankan team is in Pakistan currently, he said.

SriLankan ordered eight A350s from Airbus in 2014. It has cancelled four and got rid of one of the others. Hashim said it was in talks with parties including an Iranian airline to sell the remaining A350s, which are still in production.

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 9, 2023 (Thursday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 270.25 271.25
Euro EUR 290.11 290.71
UK Pound Sterling GBP 326.85 327.55
U.A.E Dirham AED 73.49 73.79
Saudi Riyal SAR 71,93 72.23
Australian Dollar AUD 184.3 186.7
Bahrain Dinar BHD 732.35 740.35
Canadian Dollar CAD 205 207.2
China Yuan CNY 40.72 41.12
Danish Krone DKK 39.92 40.32
Hong Kong Dollar HKD 35.08 35.43
Indian Rupee INR 3.35 3.46
Japanese Yen JPY 2 2.16
Kuwaiti Dinar KWD 900.32 909.32
Malaysian Ringgit MYR 64.65 65.25
New Zealand Dollar NZD 173.63 175.63
Norwegians Krone NOK 27.12 27.42
Omani Riyal OMR 715.53 723.57
Qatari Riyal ‎QAR 75.64 76.34
Singapore Dollar SGD 208.03 210.03
Swedish Korona SEK 26.1 26.4
Swiss Franc CHF 298.06 300.56
Thai Bhat THB 8.25 8.4

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs193,700 on Thursday. The price of 10 grams of 24k gold was recorded at Rs166,070.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 193,700 PKR 2,350
Karachi PKR 193,700 PKR 2,350
Islamabad PKR 193,700 PKR 2,350
Peshawar PKR 193,700 PKR 2,350
Quetta PKR 193,700 PKR 2,350
Sialkot PKR 193,700 PKR 2,350
Attock PKR 193,700 PKR 2,350
Gujranwala PKR 193,700 PKR 2,350
Jehlum PKR 193,700 PKR 2,350
Multan PKR 193,700 PKR 2,350
Bahawalpur PKR 193,700 PKR 2,350
Gujrat PKR 193,700 PKR 2,350
Nawabshah PKR 193,700 PKR 2,350
Chakwal PKR 193,700 PKR 2,350
Hyderabad PKR 193,700 PKR 2,350
Nowshehra PKR 193,700 PKR 2,350
Sargodha PKR 193,700 PKR 2,350
Faisalabad PKR 193,700 PKR 2,350
Mirpur PKR 193,700 PKR 2,350

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