Air Arabia has partnered with an Egyptian company to launch a new budget carrier, allowing it to open a third hub, expanding outside of its home market. Air Arabia is the world’s biggest airline by market value Shares shot up nearly 4 per cent higher on news Air Arabia had set up a joint venture company with Egypt’s Travco group. Air Arabia is the world’s biggest airline by market value. The company said :”The new carrier will serve Europe, Middle East, and African markets and will represent Air Arabia’s third hub after UAE and Morocco.
Air Arabia began flying from its Casablanca hub to Morocco earlier this year. They said in August they would establish a new hub between its Sharjah base and North Africa in order to increase revenues and catchment area. Air Arabia was formed in 2003 and has a fleet of 20 Airbus A320 aircraft. They have placed an order for 44 more A320’s.
