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"This is an enormously significant agreement for Air Arabia, and an extremely timely one" said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia. "As we set our sights on global expansion, we remain focused on youthful, fast-growing markets where the opportunities for growth are greatest. Nepal, with a population of 29 million and a median age of just 20, is clearly among them. In this regard, we are especially pleased to join efforts with Yeti Airlines, which has nearly a decade of experience serving this market and unmatched management expertise.
"With this new hub in Nepal, Air Arabia will cover a new niche market, while continuing to offer the level of superior service that has made us one of the premier airlines in the Middle East," he added. "From Sharjah to Kathmandu, Air Arabia offers unmatched reach, and is now positioned to become one of the leading low-cost carriers in the world."
"We
are extremely pleased to announce this partnership with Air Arabia, already
a trusted and familiar name in Nepal," said Lhakpa Sonam Sherpa, Chairman
of Yeti Airlines. "As one of the first airlines, after Nepal Airlines Corporation,
in the country to receive an Air Operator Certificate to operate as an
international LCC, we look forward to offering expanded choices for regional
travelers, who will soon experience for themselves the many benefits of
low-cost travel. Operating at the high standards established by both carriers,
Yeti Airlines and Air Arabia will together revolutionise air travel in
Nepal and across a much wider region."
Air Arabia announces acquisition of up to 49 Airbus A320 aircraft
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Book value of total deal approaches US$3.5 billion
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Enormously expands carrier's fleet and potential reach
Sharjah - United Arab Emirates, November 12, 2007: Air Arabia (PJSC), the first and largest low-cost carrier (LCC) in the Middle East and North Africa, announced today that it has signed an agreement with Airbus for the acquisition of up to 49 A320 aircraft. The carrier has signed a firm contract for 34 Airbus A320 aircraft with an option for 15 more. The Sharjah-based airline, which made the announcement during the Dubai Air Show, has yet to specify the engines to be installed on its new fleet.
The deal, whose total book value approaches US$3.5 billion at list prices, will more than triple the size of Air Arabia's fleet, and underlines its stated ambition to increase its total operating fleet to over 50 aircraft by 2015 and become a world-leading airline.
Sheikh Abdullah Bin Mohammed Al Thani, Chairman, Air Arabia, said the decision to choose the Airbus A320 reflects the company's objectives in continuously providing the best value for money services in the region. "Our vision is to be one of the world's leading low-cost carriers in terms of profit margins, innovation, reputation and operational excellence. Having the A320 at the heart of our fleet is the best and quickest way we can achieve this. The aircraft has an outstanding success record throughout the world and is ideal for our needs and those of our customers," he said.
"We are pleased Air Arabia is expanding with our A320 Family. The decision reflects the technological superiority of the A320, as well as the wider fuselage for operational efficiency and added passenger comfort with increased storage volume. The aircraft has the lowest operating costs in its class," Tom Enders, Airbus President and CEO, said.
Air Arabia already operates 11 leased A320s, and serves a network of 37 destinations across the Middle East, North Africa, Indian Subcontinent and Central Asia. Launched in 2003 and based in Sharjah, Air Arabia has served more than 5 million passengers over the past four years.
The airline - recently awarded the 2007 world airline award for "Best Low Cost Carrier in the Middle East" - completed its successful initial public offering (IPO) in March 2007, and the company shares are now traded on the Dubai Financial Market (DFM).
The A320 Family, which includes the A318, A319, A320 and A321, is recognised as the benchmark single-aisle aircraft family. Each aircraft features fly-by-wire controls and shares a unique cockpit commonality across the range. Over 5,450 Airbus A320 Family have been sold and over 3,200 delivered to some 200 operators worldwide, making it the world's bestselling commercial jetliner ever.
With proven reliability and extended servicing periods, the A320 Family have the lowest operating costs of any single-aisle aircraft. In addition, the latest new cabin design saves on weight and offers the passenger a quieter and roomier experience as well as significantly larger overhead stowage lockers.
Uniquely, the A320 Family offers a containerised cargo system, which is compatible with the worldwide standard wide-body system. Airbus is an EADS company.
Flyyeti.com
Flyyeti.com's mission is to revolutionise air travel in the region through an innovative business approach offering superb value for money and a safe, reliable operation. To achieve this we will be known for our low fares, grow our business profitably, build motivated multi-functional teams, demonstrate the highest operational standards and manage our costs ruthlessly.
Flyyeti.com is a low-fares airline operating from its hub in Nepal to the Indian sub continent, China, South East Asia and the Middle East with a vision to be one of the world's leading budget airlines in terms of profit margin, innovation, reputation and operational excellence.
Flyyeti.com is modelled after leading regional low-cost airlines and is customised to local preferences. Its main focus is to make air travel more convenient and frequent through internet booking and offering the lowest fares in the market without sacrificing safety standards and service.
Through our value proposition, "Pay less. Fly more." flyyeti.com enables customers to make the smart travel choice; those who have been unable to afford air travel in the past to start travelling throughout the region and those who do travel, to do so more frequently, benefiting both business and leisure travellers.
Flyyeti.com's destination:
Bangkok (Thailand)
Delhi (India)
Doha (Qatar)
Hong Kong
Kathmandu (Nepal)
Kuala Lumpur (Malaysia)
Sharjah (UAE)
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| Source: FlyYeti.com - Air Arabia, January 2008 |
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