Regional low-cost carrier Air Arabia will form a joint venture with Tantash Group, an Amman-based investment company, to launch Jordan's first low-cost carrier. Air Arabia Jordan will provide direct service to a range of destinations across Europe, Middle East and North Africa from Queen Alia International Airport, making Amman its fourth regional hub. Last week, Air Arabia launched its Egypt operations, with its first flight taking off from Alexandria, its third hub in the region following Casablanca and Sharjah. The airline formed a joint venture with Egypt's travel and hospitality group Travco with start-up capital of $50 million. Travco Group has a 40 percent stake in the new firm while Air Arabia has 40 percent stake. Air Arabia Group CEO Adel Ali said, “At a time when the global and regional economy continues to demonstrate strong signs of sustained recovery, we are confident of the long-term growth opportunities for the first low-cost carrier in the Kingdom.” “With nearly two decades of experience in the travel and tourism sector in Jordan, Tantash Group, like our partners Air Arabia, is a pioneer in the region's rapidly expanding travel sector,” Chairman Mazen Tantash said. Details of the joint venture with Tantash will be announced at a later date.
