NEW YORK- Pakistan is seeking financing from the US Export-Import Bank (EXIM) to support Pakistan International Airlines’ (PK) planned acquisition of new aircraft, with Boeing 787 Dreamliners among the aircraft under consideration.
Finance Minister Muhammad Aurangzeb raised the proposal during a meeting with US EXIM Bank Chairman John Jovanovich in New York, where the two sides discussed aviation, refinery and mining projects.
The discussions come as PIA works on a fleet modernization program following its privatization, while seeking to restore aircraft that remain out of service.
PIA (PK) has expressed interest in Boeing aircraft, particularly the 787, and Pakistan is seeking a financing package covering both aircraft and engines, including possible support for pre-delivery payments.
PIA’s Boeing 787 Financing
Aurangzeb asked US EXIM to explore financing for PIA’s aircraft procurement as part of wider Pakistan-US economic cooperation.
The proposal would cover the aircraft and engines, while the discussions also included potential financing for pre-delivery payments that would be required before the jets enter service.
The talks do not represent a finalized order for the Boeing 787. Instead, they indicate that Pakistan is examining financing options that could support PIA’s future fleet requirements, with specific transactions still to be developed under the broader cooperation framework.
The government is also seeking spare parts to help return grounded Boeing 777 aircraft to service.
That effort could provide PIA with additional operational capacity while longer-term fleet renewal plans are being developed.
Boeing’s Delivery Plans
The EXIM discussions follow a separate meeting between Aurangzeb and Boeing Global President Brendan Nelson in New York.
Boeing confirmed that it would provide PIA with a revised proposal for new aircraft, while both sides would examine earlier delivery slots and interim leasing arrangements.
The Boeing discussions also covered engine procurement, spare parts, maintenance and the restoration of aircraft currently out of service.
These areas form part of PIA’s wider fleet modernization effort and could address both immediate capacity needs and longer-term aircraft replacement.
Pakistan’s approach therefore involves more than acquiring new aircraft. The government is also examining leasing options and maintenance support while seeking financing that could help manage the costs associated with introducing additional aircraft into PIA’s fleet.
US EXIM Support for the Financing
The proposed aviation financing is one part of broader discussions between Pakistan and US EXIM.
Refinery modernization was identified as another potential area for financing, while the Reko Diq mining project was also discussed during Aurangzeb’s meeting with Jovanovich.
Both sides agreed to continue work on a broader cooperation framework while prioritizing specific transactions that could move forward.
For PIA, the next steps will depend on the development of the aircraft proposal, financing structure, delivery options, and other commercial arrangements.
The discussions give PIA a potential route toward financing Boeing aircraft while the airline continues efforts to modernize its fleet.
However, the 787 acquisition and US EXIM financing remain under discussion, with no final aircraft order or financing agreement announced so far.
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