Prime Minister of Pakistan Imran Khan took to Twitter to welcome Air Arabia aviation group to Pakistan, on their new Joint Venture with one of the country’s leading conglomerates.
He said, “I welcome @airarabiagroup to Pakistan & wish them success in their partnership with local investors to establish a new Pakistani airline, FLY JINNAH”, adding that his government is committed to attracting investment in Pakistan’s travel and tourism sector.
I welcome @airarabiagroup to Pakistan & wish them success in their partnership with local investors to establish a new Pakistani airline, FLY JINNAH. My govt is committed to attracting investment in Pakistan's burgeoning travel & tourism sector which offers immense opportunities.
— Imran Khan (@ImranKhanPTI) September 3, 2021
In a statement on Friday, Pakistani Conglomerate Lakson Group and Middle Eastern low-cost carrier Air Arabia announced that they would be launching a budget airline in Pakistan for domestic and international routes.
This new company, called ‘Fly Jannah’ according to the statement will contribute significant value to the Pakistani economy, creating new jobs and supporting the nation’s travel and tourism sectors.
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Iqbal Ali Lakhani, Chairman of Lakson Group, said: “We are excited to partner with Air Arabia in launching Pakistan’s new low-cost carrier. “Fly Jinnah” will serve Pakistan’s travel and tourism sector and will play a constructive role in contributing to the nation’s economic growth.”
He added, “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. Air Arabia enjoys a track-record of reliable and efficient operations, and we look forward to working closely towards launching and developing the new airline.”
Also talking about this development Chairman of Air Arabia Sheikh Abdullah Bin Mohammed Al Thani said, “We are delighted at Air Arabia Group to partner with Lakson Group on this joint venture to launch Pakistan’s new low-cost carrier. 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.”
He added, “We thank Lakson Group and the Government of Pakistan for their trust, and we look forward to working hand in hand to develop the new airline, which will serve as a new value-for-money air travel option for the country.”
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The company will initially be based in Karachi, serving the domestic routes across Pakistan, and then plans to expand beyond the borders. “The new carrier will follow the low-cost business model and provide its customer base with a reliable operation and value-driven product,” the statement read.
It is worth mentioning that 1 per cent of Pakistan’s GDP is supported by inputs to the air transport sector and foreign tourism, and according to IATA estimates, the air transport industry is poised to spend $3.3 billion of GDP in the country.
The Lakson Group
According to its website, The Lakson Group, the local partner in this JV, is one of Pakistan’s leading business conglomerates. It was established in 1954 and is one of the largest business groups in Pakistan.
Today it manages and owns companies that are industry leaders in their respective sectors including agri-business, call centers, consumer non-durables, fast food, financial services, media, paper and board, printing and packaging, surgical instruments, technology (data-networking, BPO and software) and travel.
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The conglomerates assets are reported more than $1 billion with more than 15 companies in Pakistan.
Air Arabia
According to the Air Arabia website, Air Arabia (PJSC), which is listed on the Dubai Financial Market, is the Middle East and North Africa’s leading low-cost carrier (LCC) operator. The company commenced operations in October 2003 and currently operates a total fleet of 58 new Airbus A320 and A321 aircraft, serving some 170 routes from five hubs in the UAE, Morocco, and Egypt.