A Malaysian court on Wednesday ordered the release of a Pakistani passenger plane, which was held back in Kuala Lumpur over a lease dispute two weeks ago.
The plane was seized by the Malaysian authorities after a local court allowed the plane's Dublin-based lessor, Peregrine Aviation Charlie Limited, to keep it grounded, following the non-payment of $14 million dues by state-owned Pakistan International Airlines (PIA).
The PIA, which had termed the Malaysian court's judgment "one-sided" said it could not pay the dues on time because of a growing financial crunch caused by the coronavirus pandemic.
The airline, however, paid the dues last week, capping a legal battle with the lessor.
The two sides informed the Kuala Lumpur High Court that they have reached an "amicable" settlement to the dispute, the Edge Markets publication quoted airline's counsel Kwan Will Sen as saying.
"With this, the two Boeing aircraft operated by PIA would be released with immediate effect," Kwan told the publication.
Abdullah Hafeez, the airline's spokesman, also confirmed the development.
The plane will be brought back to Pakistan as a regular flight on Jan. 29, Hafeez told Anadolu Agency.
The two jets were leased to the PIA in 2015.
