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Air Arabia Partners Travco to Launch New LCC in Egypt

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Sharjah-based Air Arabia and the Travco Group, one of the largest travel and hospitality groups in the Middle East have signed a joint venture agreement to launch a new low cost carrier based in Egypt.

The new carrier will serve Europe, Middle East and Africa markets and will be Air Arabia’s third hub after the UAE and Morocco.

Building upon Air Arabia’s existing services to 57 destinations across EMEA, the new airline will contribute to the on-going development of the Egyptian travel and tourism sector as well as offer a larger base of customer best value for money air travel.

“The enormous commercial success of Air Arabia in the six years since the carrier was launched makes clear the strength of its business model, which we are confident will allow Air Arabia ‘Egypt’ to reach new heights,” said Hamed El Chiaty, Chairman and CEO of Travco Group. “As the country’s most qualified tourism and hospitality group, the Travco Group will provide its own keen insights into the European and Egyptian markets as well as the wider region.”

 Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia, added, “At a time when the global aviation industry is witnessing serious challenges as a consequence of the worldwide financial crisis, we continue to move forward with our strategic expansion strategy, as demonstrated by this important announcement. Through this new partnership, we look forward to replicate the success Air Arabia has already achieved from its existing hubs.”

The new carrier, whose operations will be managed by the Air Arabia Group, will follow the successful low-cost model pioneered in the Middle East and North Africa by Air Arabia.

Air Arabia, which currently operates a total fleet of 20 new Airbus A320 aircraft, launched service from Sharjah, UAE, in October 2003. Earlier in May this year, the airline launched its second hub in Mohammed V International Airport in Casablanca, currently providing service to 11 destinations across Europe and North Africa. The airline has a confirmed order with Airbus for the purchase of 44 A320 aircraft.

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