Pakistan has asked a US government lender to help pay for new Boeing planes for Pakistan International Airlines (PIA). Finance Minister Senator Muhammad Aurangzeb raised the request in a meeting with the Chair of the US Export-Import Bank (US EXIM), John Jovanovich, in New York. The meeting took place during Aurangzeb's visit for the United Nations General Assembly session, alongside Prime Minister Shehbaz Sharif.
What Aurangzeb Asked US EXIM Bank For
PIA wants to add Boeing 787 Dreamliners to its fleet, an aircraft it does not currently operate. Aurangzeb asked US EXIM to help finance both the planes and their engines. He also raised support for pre-delivery payments, the upfront costs airlines pay before a new aircraft is handed over.
Separately, he asked for help sourcing spare parts to return grounded Boeing 777 aircraft to service. Both sides agreed to keep working on a wider deal, while moving faster on specific transactions like this one. The same meeting also touched on financing for a refinery upgrade and the Reko Diq mining project, though the airline request was the main aviation topic.
No agreement or loan has been signed. This was a financing request, not a confirmed aircraft order.
Why PIA's Fleet Needs Fixing
This request comes soon after PIA's privatisation. An Arif Habib-led consortium bought a 75% stake in the airline for Rs 135 billion, with the deal legally completed in June 2026. The consortium has since moved to buy the government's remaining 25% stake too. The new owners have said they want to grow PIA's fleet from 18 aircraft to 38.
The spare parts problem isn't new. At one point, 7 of PIA's 12 Boeing 777s were grounded for years due to missing parts. Just last week, PIA's board approved leasing five more Boeing aircraft, including two 777s on a six-month wet lease from Norse Atlantic, to cover gaps while parts issues get sorted out.
No timeline has been given for when the Boeing 787 financing could be finalised or when any new aircraft might arrive.
