MANAMA, 9 November 2007 — Air Arabia, one of the most rapidly growing low-cost carriers and with capital of $1.2 billion, announced an ambitious expansion plan by setting up a second hub in Morocco to serve Europe, Middle East and Africa. On fleet expansion, the airline is negotiating to buy 34 to 50 new aircraft worth $3.3 billion, its CEO Adel Ali said in a press conference at Moevenpick Hotel Bahrain yesterday.
The value of the proposed fleet is somewhere $3.3 billion and the sound cash position of the airline and financing from the financial institutions can make the upcoming expansion plan a reality.