Wednesday, November 06, 2019

Air Arabia denies reports on JV’s operations

Dubai: Budget carrier Air Arabia on Wednesday denied media reports that its joint venture, Air Arabia Abu Dhabi, will focus on flights to India after the collapse of Jet Airways.

A Bloomberg report, which was then circulated by other media outlets, said that Air Arabia Abu Dhabi, a joint venture with Etihad Aviation Group, will take over most of the 100 landing slots in India that were occupied by Jet Airways. Etihad Airways held a 24 per cent stake in the now-collapsed Jet Airways.

The report was the first update to come out about Air Arabia Abu Dhabi, after Air Arabia and Etihad announced the joint venture. At the time of the announcement, both airlines said there were no details available yet on the new carrier’s operations.

The news from Bloomberg led to a 4.35 per cent jump in Air Arabia’s share prices, and the stock was the most actively traded on the Dubai bourse.

Air Arabia said in a statement that it “categorically denies” what it described as “unfounded reports” regarding Air Arabia Abu Dhabi’s plans and future operations.
06/11/19 Sarah Diaa/Gulf News
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