Pakistan International Airlines (PIA) has placed a firm order for five Boeing 777-300ER aircraft in a deal that includes purchase rights for a further five of the General Electric GE90-115BL-powered type.

The airframer said the purchase is valued at nearly $1.5 billion at list prices.

In 2002, Pakistan's flag carrier became the world's first airline to purchase all three passenger models of the 777 family and in that year was also the launch customer for the 777-200LR.

The carrier has a total of nine 777s in its fleet according to Flightglobal's Ascend Online database.

PIA has accumulated losses of PRs120 billion ($1.32 billion) over the last 10 years.

Source: Air Transport Intelligence news