Let's call a spade a spade: the government of PNG is broke. The re-entry of Alan Milne to the position of CEO bodes well for the managing of PX (Air Niugini.)
What PX needs - what it has always needed - is both pragmatism and creativity. Both of which have been difficult to come by under the ownership model (SOE- State Owned Entity) of the airline. Unfortunately State Ownership created this institutional ethos whereby the airline became a plaything for the Government of PNG and all its associates.
The PNG Kina has deteriorated to the point where imports (fuel in the case of the airline) have become an overwhelming imposition. 600 AUD sent via Western Union two weeks ago fetched 2,020 PGK. The condition of the country overall is reflected in PX. And yet creativity is the light in such somber-gloomy circumstances. Under the pragmatic officership of Milne during his first tenure, Qantas Link were bringing their Q400s to POM (Port Moresby) for maintenance. Work was created in POM and space was freed back in Australia. And that very poor PGK rate...ask Qantas Link if they were happy signing the cheque for services rendered.
The crux of the why as to the abandonment of the 787 is not available to us. Nevertheless, it is a pragmatic decision - intentional or otherwise.
The country doesn't need the unnecessary impost of two 787s. PNG should work with what it has. Fly the A220s on the Asian routes and convert the 767s to Freighters. Couture products in the realm of agriculture (as an example) need a dedicated government envoy to encourage and facilitate the creation and logistics of such products into international markets. The 767s as freighters can play a vital role in the logistics sphere. Belly freight is one thing: a dedicated freighter can so so much more. And why not see if PX can get into bed with DHL. Tasman Cargo Airlines represents DHL in the land down under and then across the ditch (New Zealand); and I've seen them on Flight Radar going to Asia.
Weaknesses can be strengths! Having Milne back as CEO and ditching the 787s is the pragmatic restart needed.
Logic takes you from A to B. Creativity takes you everywhere else. Albert Einstein!