Business tycoons unite to launch ‘Air Karachi’ airline

KARACHI: Leading businessmen have come together to form a strategic alliance for the launch of Air Karachi, a new airline aimed at addressing gaps in Pakistan’s commercial aviation sector, announced Atif Ikram Sheikh, president of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), on Thursday.

The initiative is a joint venture by prominent business leaders and corporate investors, including FPCCI President Atif Ikram Sheikh as a major shareholder, alongside SM Tanveer; Chairman of AKD Group Aqeel Karim Dhedhi; Chairman of Arif Habib Limited Arif Habib; industrialist and educationist Bashir Janmohammad; former FPCCI president Zubair Tufail; former FPCCI senior vice presidents Hanif Gohar and Khalid Tawab; Chairman of PVMA and former KATI president Sheikh Umer Rehan; and Chairman of Tabani Group Hamza Tabani, among others. These industrialists have joined forces to fill the void in Pakistan’s aviation industry.

Sheikh revealed that the alliance has already pledged an initial seed investment of Rs5 billion, with additional funds and financing to be arranged as needed for fleet expansion, infrastructure development, new domestic routes and international operations. “This will be a truly transcontinental airline,” he remarked.

The FPCCI chief highlighted that Air Karachi has been registered with the Securities and Exchange Commission of Pakistan (SECP) and plans to lease three state-of-the-art aircraft to commence domestic operations. The airline’s next phase will include international flights, aiming to reclaim lucrative routes where Pakistani carriers once proudly operated.

Sheikh said that Air Karachi will prioritise operational and managerial efficiency to ensure profitability, rejecting practices such as profiteering or price gouging. “This approach will deliver price competitiveness, value, growth and sustainability. We need to bring this model to Pakistan,” he added.

The airline will adhere to international best practices in management and aviation, including passenger safety, environmental standards, schedule reliability, in-flight services, and pre- and post-flight customer care.

Sheikh explained that the initiative was driven by the deteriorating state of Pakistan’s national carrier and the lack of competitive, quality commercial airlines, which have negatively impacted the country’s economy, tourism and international image. “Pakistan cannot attract substantial foreign investment or tourism without an airline that meets international standards and operates with integrity. Tourism alone has the potential to generate billions of dollars annually for the country,” he concluded.