Air Arabia Egypt
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| Founded | 9 September 2009 | ||||||
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| Operating bases | Borg El Arab Airport (until El Nouzha Airport reopens) | ||||||
| Fleet size | 1 | ||||||
| Destinations | 7 | ||||||
| Parent company |
Air Arabia (40%) Travco Group (50%) |
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| Headquarters | Alexandria, Egypt | ||||||
| Website | www.airarabia.com | ||||||
Air Arabia Egypt (Arabic: العربية للطيران مصر) is a low-cost carrier based in Egypt. The airline is a joint venture between the Egyptian travel and tourism company, Travco Group, and Air Arabia.
The head office is in King Mariout in Alexandria.
The airline secured it operating license from the Egyptian authorities on the 22 May 2010 and began commercial operations on 1 June 2010. The airline is based at Alexandria's Borg El Arab Airport.
Air Arabia announced at a press conference on 9 September 2009 that they will be setting up a new airline to be based in Egypt with Travco Group to boost tourism in Egypt and to expand the Air Arabia network. Travco is Egypt's largest tourism company.
Travco Group will be the majority owner with a 50% stake in the airline, Air Arabia with 40% and an independent Egyptian investor will hold the remaining 10%.
The airline will have an initial capital of $20 million, increasing to $50 million over the next three years.
A joint board has been set up with all 3 stakeholder represented. Key business decisions will be made by the board, but Air Arabia are responsible for the day-to-day running of the company in addition to maintenance, engineering, catering and handling.
Travco (which owns 146 hotels, resorts and cruise ships and handles more than 1.3 million tourists annually) will provide the airline with access to its network of tour operators, help with marketing and assist with government relations.
During the Arab Air Carriers Organization conference in October 2009, Air Arabia CEO Adel Ali indicated that the new airline would operate from Alexandria and a Red Sea station (either Sharm el-Sheikh or Hurghada) as well as Cairo. "Egypt has different needs," he says, in contrast to the single bases established by Air Arabia in Sharjah and Morocco.
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Wikipedia