Karachi's business community takes to the skies with launch of 'Air Karachi'

Karachi's business leaders have come together to launch a new airline — "Air Karachi" — with an initial investment of PKR 5 billion.

Speaking to Nukta, renowned businessman Hanif Gohar said Air Karachi will initially operate domestic flights with a fleet of three aircraft, connecting Karachi to major cities including Lahore, Islamabad, Peshawar, Quetta, and Faisalabad.

The Securities and Exchange Commission of Pakistan (SECP) has officially allocated the name "Air Karachi" to the airline, marking a significant milestone in the project's development, Gohar said.

While the airline has applied for a licence and received approval from the SECP for the name, it has not yet received a go-ahead to launch from the authorities.

“A consortium of 50 partners, each holding a share worth PKR 50 million, will drive the venture forward,” Gohar said adding the airline's business structure will mirror that of AirSial, which commenced operations in 2020.

Gohar revealed to Nukta that several prominent businessmen, including Aqeel Karim Dedhi, Arif Habib, Bashir Jan Muhammad, Khalid Tawab, and Zubair Tufail, are on board, lending their expertise and support to the project.

To capture market share, Air Karachi will offer competitive rates on all domestic routes. “The airline is expected to attract a large number of passengers and establish Air Karachi as a major player in the domestic aviation market,” Gohar added.

Air Karachi plans to expand its operations internationally after completing one year of domestic operations.

Air Vice Marshall (Retired) Imran has been appointed as the CEO of Air Karachi, bringing his vast experience and leadership skills to the table.

Gohar highlighted that launching Air Karachi was driven by a desire to boost economic activity in Pakistan, rather than investing in the struggling Pakistan International Airlines (PIA).

By starting their own airline, the business community aims to build a successful enterprise that will contribute to the country's economic growth and development.