Air Karachi emerges as latest would-be Pakistani start-up
Air Karachi is the latest would-be Pakistani start-up carrier to emerge following a failed bid to sell a majority stake in PIA - Pakistan International Airlines (PK, Islamabad International). The planned airline is a joint venture involving local business leaders and corporate investors and appears to be led by Atif Ikram Sheikh, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Sheikh told Pakistani news outlets that investors had already pledged an initial seed funding of PKR5b rupees (US$18m), with further financing to be arranged. Initially the airline intends to operate with three leased aircraft on domestic sectors before expanding to international routes. "[Our] approach will deliver price competitiveness, value, growth, and sustainability," he declared. "We need to bring this model to Pakistan.”<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-12-04/unaligned/air-karachi-emerges-as-latest-would-be-pakistani-start-up
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Air Karachi emerges as latest would-be Pakistani start-up
Air Karachi is the latest would-be Pakistani start-up carrier to emerge following a failed bid to sell a majority stake in PIA - Pakistan International Airlines (PK, Islamabad International). The planned airline is a joint venture involving local business leaders and corporate investors and appears to be led by Atif Ikram Sheikh, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Sheikh told Pakistani news outlets that investors had already pledged an initial seed funding of PKR5b rupees (US$18m), with further financing to be arranged. Initially the airline intends to operate with three leased aircraft on domestic sectors before expanding to international routes. "[Our] approach will deliver price competitiveness, value, growth, and sustainability," he declared. "We need to bring this model to Pakistan.”<br/>
