Thursday, November 21, 2019

SpiceJet to set up JV airline at Ras Al Khaimah with 49% share; eyes East Europe

SpiceJet will be setting up an airline at Ras Al Khaimah with a local partner and will have a 49 percent shareholding in the joint venture, Chairman and Managing Director Ajay Singh said.

The airline will initially have a fleet of 4-5 Boeing MAX. However, SpiceJet is yet to finalise the local partner and apply to the local regulatory body for an air operator permit.

As per the current bilateral arrangement with Ras Al Khaimah, SpiceJet has the availability to operate two flights per week as the remaining two flights are operated by Air India Express. Air India Express operates flights between Kozhikode and Ras Al Khaimah on Wednesday and Friday.

While SpiceJet is yet to decide the departure point of Ras Al Khaimah flights from India, it is certain that the Middle East is an important market for the airline.

"We are looking at East Europe, Africa... we are getting some incentives from the airport.. they want us to start operations with as many aircraft as we want... the more the better," a senior official said.
21/11/19 Anu Sharma/CNBC TV18
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