10-Sep-2009 8:45 AM

Air Arabia and Travco to launch new LCC in Egypt

Air Arabia and Travco Group signed (09-Sep-09) a joint venture agreement to launch a new LCC in Egypt. Air Arabia Egypt will serve Europe, the Middle East and Africa, and will represent Air Arabia's third hub after Sharjah and Casablanca (Morocco). Details of the launch will be announced “in due course”. However, the new carrier reportedly has start-up capital of USD50 million (Emirates Business 24/7, 09-Sep-09). The carrier will operate A320 aircraft, which will be allocated from Air Arabia's existing orders for 44 A320s. [more] [more - Perspective]