By Elsa Baxter
Air Arabia to launch new budget airline with Travco allowing it to open third hub.
UAE low-cost carrier
has announced on Wednesday that it will launch a new budget airline in Egypt.
The deal with Egyptian tourism group Travco enables the airline to open its third hub, the firm said in a statement.
"The new carrier will serve Europe, Middle East and African markets and will represent
's third hub after UAE and Morocco," the airline said.
The low-cost carrier currently serves 57 destinations across Europe, the Middle East, Africa and Asia. The new Egyptian carrier will follow the same low-cost model as
“At a time when the global aviation industry is witnessing serious challenges as a consequence of the worldwide financial crisis, we continue to move forward with our strategic expansion strategy, as demonstrated by this important announcement,” said said Sheikh Abdullah Bin Mohammed Al Thani, chairman of
“Through this new partnership, we look forward to replicating the success
has already achieved from its existing hubs”
launched services from Sharjah in October 2003. In May this year the airline opened its second hub in Casablanca.
The Travco Group employs more than 24,000 people and operates 146 hotels, resorts and cruises in Europe, Egypt and the Middle East.