The UAE-listed Air Arabia Group and Pakistan's Lakson Group formed a joint venture to launch a new low-cost carrier serving domestic and international destinations from the South-Asian country.
The new carrier, Fly Jinnah, will be based in Karachi to initially serve domestic routes across Pakistan before expanding its route network internationally, Air Arabia said.
“We are confident that Fly Jinnah will add value to the air transport sector of Pakistan and directly contribute to the local economy through job creation and the development of the travel and tourism sector,” Sheikh Abdullah bin Mohammed Al Thani, chairman of Air Arabia, said.
The new Pakistan-based airline marks Air Arabia's third joint venture deal to establish a new airline after announcing similar deals in Abu Dhabi in July 2020 and in Armenia in July. The Sharjah-based airline has been pushing ahead with expansion in the wake of the Covid-19 pandemic last year as low-cost carriers bet on a recovery in air travel demand amid rapid vaccine campaigns around the world.
We are confident that Fly Jinnah will add value to the air transport sector of Pakistan and directly contribute to the local economy through job creation and the development of travel and tourism sector
Sheikh Abdullah bin Mohammed Al Thani,
chairman, Air Arabia
The new airline will contribute to Pakistan's economic growth and job creation, while providing the country with "reliable and value-for-money" air travel, Air Arabia said.
“Fly Jinnah will serve Pakistan’s travel and tourism sector and will play a constructive role in contributing to the nation’s economic growth,” Iqbal Ali Lakhani, chairman of Lakson Group, said.
“This partnership also reflects our commitment to support the development of Pakistan’s air transport sector while providing the citizens and visitors of the country with a new option of value-for-money air travel.”
The partners will soon start the process of securing the air operating certificate, which allows the airline to start operating, according to the statement.
More details about the launch date, fleet size and destination network will be announced in due course, Air Arabia said.
The air transport industry, including airlines, their supply chain and tourism spending, is estimated to contribute $3.3 billion to Pakistan’s gross domestic product, according to the aviation industry lobby group International Air Transport Association (Iata). In total, one per cent of the country’s gross domestic product is supported by inputs from the air transport sector and foreign tourist arrivals.
In July, Air Arabia formed a joint venture with the Armenian National Interests Fund to launch Armenia’s new airline, Fly Arna. The new carrier will apply for its air operator certificate in the coming weeks.
This partnership will provide the citizens [of Pakistan] and visitors with a new option of value-for-money air travel
Iqbal Ali Lakhani,
chairman, Lakson Group
The Sharjah-based group acquired a 49 per cent stake in the joint venture and will manage the business in Armenia, Adel Ali, Air Arabia group chief executive, told Bloomberg TV last month.
Air Arabia Abu Dhabi, a joint venture between Air Arabia and Etihad Airways, was launched in July 2020 with a maiden flight to the Egyptian port city of Alexandria from its base at Abu Dhabi International Airport.
Air Arabia operates five bases in Ras Al Khaimah, Sharjah, Abu Dhabi, Egypt and Morocco.
The airline swung to a quarterly profit as revenue more than quadrupled and passenger traffic increased across its five bases amid a gradual recovery in air travel from the Covid-19 pandemic-driven slowdown.
It posted a Dh10 million ($2.72m) net profit in the three months to June 30, compared with a Dh239m loss in the same period a year earlier. Quarterly revenue was up 313 per cent to Dh496m.
The Lakson Group was established in 1954 and owns and operates more than 15 companies in Pakistan, according to the statement. The group operates in more than 50 cities in Pakistan and employs more than 17,000 people.
In July, international and domestic passenger travel demand showed "significant momentum", compared to June and remained far below pre-pandemic levels, Iata said in its monthly report. Extensive government-imposed travel restrictions continue to delay recovery in international markets, it said.
Domestic traffic was back to 85 per cent of pre-crisis levels, but international demand has only recovered just over a quarter of 2019 volumes.
“July results reflect people’s eagerness to travel during the Northern Hemisphere summer," Willie Walsh, Iata's director general, said. "The problem is border control measures. Government decisions are not being driven by data, particularly with respect to the efficacy of vaccines."
"A recovery of international travel needs governments to restore the freedom to travel," Mr Walsh added. "At a minimum, vaccinated travellers should not face restrictions. That would go a long way to reconnecting the world and reviving the travel and tourism sectors."
PREMIER LEAGUE FIXTURES
All kick-off times UAE ( 4 GMT)
Saturday
Liverpool v Manchester United - 3.30pm
Burnley v West Ham United - 6pm
Crystal Palace v Chelsea - 6pm
Manchester City v Stoke City - 6pm
Swansea City v Huddersfield Town - 6pm
Tottenham Hotspur v Bournemouth - 6pm
Watford v Arsenal - 8.30pm
Sunday
Brighton and Hove Albion v Everton - 4.30pm
Southampton v Newcastle United - 7pm
Monday
Leicester City v West Bromwich Albion - 11pm
Global state-owned investor ranking by size
|
1.
|
United States
|
|
2.
|
China
|
|
3.
|
UAE
|
|
4.
|
Japan
|
|
5
|
Norway
|
|
6.
|
Canada
|
|
7.
|
Singapore
|
|
8.
|
Australia
|
|
9.
|
Saudi Arabia
|
|
10.
|
South Korea
|
Company%C2%A0profile
%3Cp%3ECompany%3A%20Zywa%3Cbr%3EStarted%3A%202021%3Cbr%3EFounders%3A%20Nuha%20Hashem%20and%20Alok%20Kumar%3Cbr%3EBased%3A%20UAE%3Cbr%3EIndustry%3A%20FinTech%3Cbr%3EFunding%20size%3A%20%243m%3Cbr%3ECompany%20valuation%3A%20%2430m%3C%2Fp%3E%0A
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3Eamana%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2010%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Karim%20Farra%20and%20Ziad%20Aboujeb%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%3Cbr%3E%3Cstrong%3ERegulator%3A%20%3C%2Fstrong%3EDFSA%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinancial%20services%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E85%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESelf-funded%3Cbr%3E%3C%2Fp%3E%0A
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
More from Rashmee Roshan Lall
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
KILLING OF QASSEM SULEIMANI
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
UAE currency: the story behind the money in your pockets
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
THE%20SPECS
%3Cp%3EEngine%3A%204.4-litre%20twin-turbo%20V8%20hybrid%0D%3Cbr%3EPower%3A%20653hp%20at%205%2C400rpm%0D%3Cbr%3ETorque%3A%20800Nm%20at%201%2C600-5%2C000rpm%0D%3Cbr%3ETransmission%3A%208-speed%20auto%0D%3Cbr%3E0-100kph%20in%204.3sec%0D%3Cbr%3ETop%20speed%20250kph%0D%3Cbr%3EFuel%20consumption%3A%20NA%0D%3Cbr%3EOn%20sale%3A%20Q2%202023%0D%3Cbr%3EPrice%3A%20From%20Dh750%2C000%0D%3Cbr%3E%3C%2Fp%3E%0A
MATCH INFO
BRIGHTON 0
MANCHESTER UNITED 3
McTominay 44'
Mata 73'
Pogba 80'
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Results
2.30pm: Handicap (PA) Dh40,000 1,700m; Winner: AF Mezmar, Adam McLean (jockey), Ernst Oertel (trainer).
3pm: Maiden (PA) Dh40,000 2,000m; Winner: AF Ajwad, Tadhg O’Shea, Ernst Oertel.
3.30pm: Handicap (PA) Dh40,000 1,200m; Winner: Gold Silver, Sam Hitchcott, Ibrahim Aseel.
4pm: Maiden (PA) Dh40,000 1,000m; Winner: Atrash, Richard Mullen, Ana Mendez.
4.30pm: Gulf Cup Prestige (PA) Dh150,000 1,700m; Winner: AF Momtaz, Saif Al Balushi, Musabah Al Muhairi.
5pm: Handicap (TB) Dh40,000 1,200m; Winner: Al Mushtashar, Richard Mullen, Satish Seemar.
The specs
Engine: 2.0-litre four-cylinder turbo
Power: 268hp at 5,600rpm
Torque: 380Nm at 4,800rpm
Transmission: CVT auto
Fuel consumption: 9.5L/100km
On sale: now
Price: from Dh195,000
