ATW Daily News
Air Arabia to launch Egyptian LCC
Thursday September 10, 2009Air Arabia signed a joint venture agreement with Egyptian travel and hospitality conglomerate Travco Group to launch an Egypt-based low-cost carrier that will serve Europe, the Middle East and Africa.
The new base will be Air Arabia's third after Sharjah and Casablanca. It did not say where the new LCC will be based or give details on specific routes or a timeline for launch. The venture will have startup capital of $50 million with Air Arabia Group holding 40% stake, according to several press reports.
As with Air Arabia Moroc, a JV with Morocco's Regional Air Lines, the Egyptian carrier will be managed by Air Arabia Group and its operations "will follow the successful low-cost model pioneered in the Middle East and North Africa by Air Arabia," it said.
Chairman Abdullah bin Mohammed Al Thani said the carrier will "continue to move forward with our strategic expansion strategy" despite the industry downturn.
by Cathy Buyck
Other headlines:
- 747-8 completes first flight one day shy of 41st anniversary of original 747 flight
- IATA: Airline CFOs confident demand, profitability will continue to improve
- FAA seeks comment on new pilot certification proposals
- Thai approves lease of 15 widebodies
- UPS to begin furloughing 300 pilots in May absent new agreement
- HNA Group to launch new Beijing airline
- Flight recorders recovered from downed Ethiopian 737
- Short-term improvement will not stop 'record' full-year loss at BA
- Steven Udvar-Hazy retires from ILFC
- Finnair annual loss doubles to €102 million
ATW Media Group
If you have a technical question about this site, please contact the Webmaster
Privacy Statement ·
Terms of Use ·
Digital Dropoff ·
Media Kit
Copyright ©2010 Penton Media, Inc.
XML
Podcasts
