By Hadeel Al Sayegh
DUBAI, July 14 (Reuters) – The Armenian Nationwide Pursuits Fund and Center East funds provider Air Arabia AIRA.DU stated on Wednesday they deliberate to launch a brand new funds airline with Armenian capital Yerevan as its base.
The brand new provider will function as a three way partnership between the pair, they stated in a press release, adopting the low-cost mannequin operated by Air Arabia.
“We see great potential for Armenia in constructing its airline sector, which is able to add sustained worth to the financial system by means of job creation and the event of journey and tourism sector,” Air Arabia’s group chief government, Adel Al Ali, was quoted as saying.
Air Arabia operates 5 hubs in Sharjah, Abu Dhabi, Ras Al Khaimah, Egypt and Morocco, and its shares are listed on the Dubai Monetary Market.
Air Arabia has been pushing forward to increase within the wake of the coronavirus outbreak final yr as low value carriers wager on a post-pandemic surge in journey.
Its three way partnership with Abu Dhabi state-owned Etihad Airways, Air Arabia Abu Dhabi, started operations final yr and has since expanded its community to 15 locations to satisfy rising demand for funds journey from the capital.
(Reporting by Hadeel Al Sayegh; Enhancing by Kirsten Donovan and Steve Orlofsky)
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