KUALA LUMPUR (Jan 27): A Pakistan International Airlines (PIA) Boeing 777 plane held back by the Malaysian authorities due to a British court case over the jet's lease, has been released today.

The order was made by High Court judicial commissioner Atan Mustaffa Yussof Ahmad in proceedings this afternoon.

Lawyer Kwan Will Sen from Messrs Lim Chew Wee Partnership for PIA confirmed the decision today.

It was reported on Jan 15 that the aircraft was seized in Malaysia after a court order was issued following an ex-parte decision entered pertaining to a legal dispute between PIA and another party pending in a UK court. The case involved a US$14 million lease dispute.

PIA spokesman Abdullah H Khan said they were told the plane had been impounded on a court order.

Reuters had earlier reported that the Kuala Lumpur High Court on Jan 14 had obtained an application from Peregrine Aviation Charlie Ltd, the plaintiff in the case, and the matter pertains to two jets leased to PIA by Dublin-based AerCap, the world’s largest aircraft lessor, in 2015.

They are part of a portfolio that AerCap sold to Peregrine Aviation Co Ltd, an investment unit of NCB Capital, the brokerage arm of National Commercial Bank SJSC, in 2018.

However, only one plane is held at the Kuala Lumpur International Airport, while the other is said to be in Pakistan.

More to come