Business community from Pakistan’s Karachi city to soon launch private airline ‘Air Karachi’
Karachi: Following in the footsteps of Sialkot, the business community of Pakistan’s biggest city and economic hub will soon launch a commercial private airline “Air Karachi”, an official said on Thursday.
The business community of Sialkot, a major hub for exporters of sports goods, particularly footballs, surgical and other products, are successfully running a private airline “Air Sial”.
They have also built a new airport in Sialkot city to boost the exports.
“Air Sial” is now also flying on international routes, particularly in West Asian countries, after its inauguration in 2020.
“Karachi is the main financial centre of the country which requires more domestic and international airline operations,” said Hanif Goher, former senior vice president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
Goher said like Sialkot the business community in Karachi would also boost its business by running a private airline.
“The airline company has already registered with the Securities and Exchange Commission of Pakistan (SECP),” he said.
“We have submitted all required documents to the government for directives for issuance of a license to operate the airlines,” he said.
Goher said the initial investment made by the business community was around Pak Rs 8 billion with four main stakeholders in the airline.
The businessman said an Air Vice Marshal had been appointed as CEO and top business tycoons, including Aqeel Karim Dhedhi, Arif Habib, and SM Tanveer, are shareholders in the company.
Three aircraft will be leased initially for the new airline’s operation followed by more aircraft in the fleet, he said.
“The company is confident of getting its license to operate “Air Karachi” in the coming days.” Because of a big market for domestic air travel in the country, an official source in the Civil Aviation Authority said they were already evaluating applications for issuance of licenses to three other private airlines which want to serve domestic routes.
The source said the new local airlines included Jet Green, Q Airways, and Go Green Air while Air Indus has also expressed interest in resuming flight operations.
The CAA source said the large number of license applications was a positive sign for the country’s economy.
“The introduction of new airlines is expected to provide passengers with better travel options, enhance foreign exchange in the aviation sector, and create new job opportunities,” he said.
At present three private airlines — SereneAir, AirSial, and Airblue — regularly fly aircraft on domestic routes beside the state-owned Pakistan International Airlines.
The government is trying to sell majority shares in the debt-ridden PIA but did not elicit the required bids in their first attempt.
Last month, the final bidding process to sell a 60 per cent stake in the national airlines attracted just one bid of Pak Rs 10 billion, which was rejected by the privatisation commission.
A domestic airlines performance report by CAA for the last six months of 2023 ranked PIA fourth in terms of departure and arrival punctuality.
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