Nile Air is a new airline based in Egypt. Plans for the new airline were announced in the 2007 Dubai Air Show. The airline will become the second scheduled operator in Egypt, after EgyptAir (the national carrier). The airline is yet to launch services in May/April 2008.
The Cairo-based start-up private airline plans to serve Riyadh, Jeddah, Medina, Dammam, Kuwait, Dubai, Doha, and Bahrain with passenger, freight, and airmail services.
In the 2007 Dubai Air Show the privately owned carrier signed a Memorandum of Understanding (MoU) with Airbus for 9 A321 aircraft. The airline will receive the first of the 9 new planes in late 2012, however plans to begin operations in the first quarter of 2008 with 3 leased A321 as an interim solution. The Airbus order is said to be worth $792 million according to current list prices.
Al-Tayyar said the firm would raise the bulk of the money for plane purchases through Islamic bank loans and that it has the backing of two financial institutions. Nile Air will be owned by Saudi Arabia's largest travel services firm, Al-Tayyar Travel Group.
Nile Air will initially launch flights to Saudi Arabia before beginning services to other Gulf destinations, Dr Nasser Al-Tayyar (Chairman of Al-Tayyar Travel Group and Founder of Nile Air) said. The airline also plans to sell 30% of its shares to the public in an initial public offering (IPO) in mid-2008. "We will list the shares on the Cairo bourse in the next year,"
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