Monday, January 14, 2008

Air Arabia sets up new hub in Nepal

Air Arabia sets up new hub in Nepal

Air Arabia, a major low-cost carrier (LCC), will establish a new hub in the Nepalese capital, Kathmandu.

The new hub will provide the Sharjah-based LCC with a platform from which to serve markets stretching across South and Central Asia, the Far East, Middle East and Indian Subcontinent, it said.

This announcement follows the signing of a joint venture agreement between Air Arabia and Y
eti Airlines, the market leader in domestic air travel in Nepal and approval from Nepal Government’s Department of Industries (DOI).

Under the terms of the agreement, Air Arabia and Yeti Airlines will jointly establish a new low-cost carrier, based in Kathmandu that will provide affordable and convenient service to a broad range of international destinations.

Air Arabia, a major shareholder in the new company, will apply its successful low-cost business model to the management of Nepal’s first international LCC. The new carrier is expected to begin operations with Inaugural flight taking off to Sharjah before the end of this month (January 2008), followed by operations to selected destinations in India as well as to Doha and Kuala Lampur in Malaysia.

“This is an enormously significant agreement for Air Arabia, and an extremely timely one,” said Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia.

“As we set our sights on global expansion, we remain focused on youthful, fast-growing markets where the opportunities for growth are greatest. Nepal, with a population of 29 million and a median age of just 20, is clearly among them. In this regard, we are especially pleased to join efforts with Yeti Airlines, which has nearly a decade of experience serving this market and unmatched management expertise.

“With this new hub in Nepal, Air Arabia will cover a new niche market, while continuing to offer the level of superior service that has made us one of the premier airlines in the Middle East,” he added. “From Sharjah to Kathmandu, Air Arabia offers unmatched reach, and is now positioned to become one of the leading low-cost carriers in the world. – TradeArabia News Service

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