Pakistan has sought potential financing support from the US Export-Import Bank for Pakistan International Airlines’ aircraft plans, including interest in Boeing 787 Dreamliners, as Islamabad explores funding for aviation and refinery projects.
Finance Minister Muhammad Aurangzeb discussed the proposals with US EXIM Chairman John Jovanovich in New York. According to an official Pakistani statement, PIA’s requirements include a possible financing package covering aircraft and engines.
The talks also covered spare parts needed to return grounded Boeing 777 aircraft to service and possible financing for pre-delivery payments. Refinery upgrades were identified as another area where US EXIM support could potentially be considered.
The discussions do not amount to a completed Boeing 787 order or an approved EXIM financing agreement. The two sides agreed to continue work on a broader cooperation framework while prioritising specific potential transactions.
Aurangzeb had separately met Boeing Global President Brendan Nelson earlier in New York, where PIA fleet modernisation, aircraft availability, leasing options, engines, spare parts and maintenance were discussed.
Any eventual aircraft acquisition or financing package would depend on further commercial and financing negotiations.
Official sources and subsequent clarification
The Finance Ministry’s September 24 statement, published by the Press Information Department, describes potential financing discussions involving aircraft, engines, refinery upgrades and Reko Diq. Its September 22 statement covers the earlier meeting with Boeing.
In a subsequent clarification reported on September 27, an adviser to the finance minister said the government was not itself buying aircraft for the privatised airline and had announced no sovereign guarantee or taxpayer-funded loan. Potential export-credit financing should therefore not be confused with an approved government borrowing arrangement.