MMA Group, a US based well-diversified group, is launching a budget airline in May from Ras Al Khaimah, UAE, with inaugural flight to Karachi.
Sources told Emirates 24l7 that the booking for MMA Airline will start from next week and the first flight will take off from Ras Al Khaimah to Karachi between May 1 to 15. The airline plans 10 flights a week to Karachi.
MMA group is one of the world's leading online forex trading brokers, with over 100,000 registered customers worldwide and volumes of more than $20 billion a month. Its business interests include a bank, online forex trading, online radio, social networking site ‘Konnects’, heavy machinery and advertisement.
The airline, which has obtained licence from Ras Al Khaimah and Dubai and operates two aircraft, will expand to other Pakistan cities in the first stage of expansion, sources said.
The airline aims to fly to Indian cities like Mumbai and Delhi after few months. In this expansion phase, the airline intends to cover most Asian cities – mainly subcontinent, the sources added. “We’ll also start from Dubai after 5-6 months time when we have four aircraft – a key requirement to operate from Dubai airports,” he said.
The International Air Transport Association (Iata) last week increased profit outlook for the Middle East airlines to $500 million (Dh 1.83 billion) for 2012 as compared to $300 million projected in December 2011.