Monday, Nov 03, 2008
DUBAI (Zawya Dow Jones)--Sharjah-based low-cost carrier Air Arabia (AIRARABIA.AI) said Monday it will commence operations from a second hub in Morocco early next year to serve European and African markets.
The new airline, called Air Arabia Maroc, will cover the North African country's domestic sector and operate in selected destinations across Europe and Africa, the budget airline said in a statement on the Dubai Financial Market.
Last year, Air Arabia said it would set up a second hub in Morocco after signing a management agreement with the country's private carrier Regional Air Lines.
Air Arabia said it will assume management control and apply its successful business model to the management of the newly established low-cost airline.
Bahrain's Ithmaar Bank will also be a partner in the newly created airline.
"In addition to further strengthening our operations in Sharjah, we are keen to capitalize on the immense potential in North Africa and Southern Europe," Air Arabia Chairman Sheikh Abdullah Bin Mohammed Al Thani said in the statement.
"Work on the Casablanca hub is in full swing and operations will begin early next year," he said.
Launched in 1997, Regional Airlines covers nearly all major urban centers in Morocco and four destinations in the southern European nations of Spain and Portugal.
By Stefania Bianchi, Dow Jones Newswires; +971 4 3644967; stefania.bianchi@dowjones.com
Copyright (c) 2008 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
03-11-08 1059GMT
