Mr. Atif Ikram Sheikh, President FPCCI, has apprised that, in a transformational initiative for Pakistan’s aviation industry and its skies, top businessmen have formed a strategic alliance to launch the much-needed, world-classes airline for Pakistan – which is named Air Karachi as its Head Office will be based in Karachi. The mega-venture is a joint effort by prominent business leaders and corporate investors, including FPCCI President Mr. Atif Ikram Sheik, a major shareholder.
Mr. Atif Ikram Sheikh informed that other notable shareholders of Air Karachi include big names like Mr. S. M. Tanveer, Patron-in-Chief, UBG; Mr. Aqeel Karim Dhedhi, Chairman of AKD Group; Mr. Arif Habib, Chairman AHL; Mr. Bashir Janmohammad, top industrialist & educationist; Mr. Zubair Tufail, former President FPCCI; Mr. Hanif Gohar & Mr. Khalid Tawab, former SVPs FPCCI; Sheikh Umer Rehan, Chairman PVMA & former President KATI and Mr. Hamza Tabani, Chairman Tabani Group – among other large-scale industrialists, who have joined hands to fill the void and the vacuum in Pakistan’s commercial airline’s sector.
Mr Sheikh stated that the alliance of prominent businessmen has already announced initial seed money of Rs. 5 billion, and more investments and financing will be made available as and when required for expanding the fleet, infrastructure, new domestic routes, and international operations. It will truly be a transcontinental airline, he added.
The FPCCI Chief highlighted that Air Karachi has been registered with the Securities & Exchange Commission of Pakistan (SECP) and plans to lease three top-notch aircraft to kick-start domestic operations immediately. The next phase will see the launch of international operations soon enough, with the aim of regaining the lucrative international routes where commercial planes carrying the Pakistani flag used to fly high and proud, he added.
Mr. Atif Ikram Sheikh stressed that Air Karachi’s guiding principle will be to derive profitability from operational and managerial efficiency—not profiteering or price gouging. This is how airlines ensure price competitiveness, value proposition, growth and expansion, and sustainability. He added that we need to bring the same model to Pakistan.
Mr. Atif Ikram Sheikh maintained that Air Karachi will be run under international best practices in management and aviation – be them passenger safety and environmental standards; strict compliance and reliability of schedules; in-flight food, entertainment, comfort and service quality or pre & post-flight services and facilitation.
Mr. Atif Ikram Sheikh elaborated that the businessmen mentioned above were observing the miserable state of Pakistan’s national carrier, the lack of competitive and quality commercial airlines in Pakistan, and the negative impacts of these shortcomings on Pakistan’s economy, tourism and international image. We can never achieve the goal of attracting foreign investors and tourists in big numbers until and unless we have an airline with international standing and work ethic. In contrast, tourism alone can earn Pakistan billions of dollars annually.
