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FINANCIAL NEWS
Licensing slows down Air Arabia expansion
25 Jan 2011
(MENAFN) Air Arabia CEO said that plans for the Sharjah-based airline expansion in the Arab region are being held back by foreign ownership rules in targeted countries, reported The National.
The CEO said that the carrier planned an addition of around twenty new hubs in the MENA region thus elevating the carrier to the scale of European budget giants easyJet and Ryanair.
He said that the European experience was successful due to EU countries adopting unified policies and regulations, thus boosting expansion in different countries.
It is worth noting that air Arabia currently has operations in the UAE, Morocco and Egypt, with a fourth hub, in Jordan, scheduled to operate this year.
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