KARACHI: A coalition of leading businessmen has announced the launch of Air Karachi, a new airline aimed at filling the gaps in Pakistan’s commercial aviation sector, News reported.
The announcement was made on Thursday by Atif Ikram Sheikh, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
The airline is a joint venture involving prominent business leaders and corporate investors, including FPCCI Chairman Atif Ikram Sheikh as a major shareholder.
Key stakeholders include AKD Group Chairman Aqeel Karim Dhedhi, Arif Habib Limited Chairman Arif Habib, industrialist and educationist Bashir Janmohammad, former FPCCI Chairman Zubair Tufail, former Senior Vice Presidents of the FPCCI Hanif Gohar and Khalid Tawab, the chairman of PVMA and former chairman of KATI Sheikh Umer Rehan and the group’s chairman Tabani Hamza Tabani, among others.
Together, these industrialists aim to revitalize Pakistan’s aviation industry.
Sheikh revealed that the alliance had already pledged an initial investment of Rs5 billion, with additional funds and financing to be arranged as needed for fleet expansion, infrastructure development, new internal routes and international operations.
“It will be a truly transcontinental airline,” he noted.
Air Karachi aims to start operations with three state-of-the-art aircraft leased for domestic flights, with the eventual aim of reclaiming international routes where Pakistani carriers once thrived.
The FPCCI chief highlighted that Air Karachi was registered with the Securities and Exchange Commission of Pakistan (SECP) and was planning to lease three state-of-the-art aircraft to begin its domestic operations.
The airline’s next phase will include international flights, aiming to reclaim lucrative routes where Pakistani carriers were once proud to operate.
Sheikh said Air Karachi would prioritize operational and managerial efficiency to ensure profitability, rejecting practices such as profiteering or price gouging.
“This approach will bring price competitiveness, value, growth and sustainability. We need to bring this model to Pakistan,” he added.
The airline will adhere to international management and aviation best practices, including passenger safety, environmental standards, schedule reliability, in-flight services and pre- and post-flight customer service.
Sheikh explained that the initiative was motivated by the deteriorating state of Pakistan’s national flag carrier and the lack of competitive and quality commercial airlines, which had a negative impact on the economy, tourism and image. international of the country.
He said: “Pakistan cannot attract significant foreign investment or tourism without an airline that meets international standards and operates with integrity. »
“Tourism alone has the potential to generate billions of dollars per year for the country,” he concluded.