competitiveness in the country.
expansion will promote trade, business and tourism in Pakistan.
airblue aims to make air travel more affordable to a greater share
of the population through discounted fares. Offering safe air travel
with modern latest technology planes, airblues presence in
the Pakistani airline market has increased consumer choice and promoted
one of the fastest-growing companies in Pakistan over the past two
years, the airline also serves as a model for smaller businesses:
over 40 percent of the companys employees are female, an unusually
high percentage for the country.
investment consists of a $22 million loan for the financing of pre-delivery
payments towards the purchase of an additional six A320s.
acquisition of these new aircraft will enable the airline to increase
the frequency of flights and introduce new international destinations
in Europe, Middle East, India, Bangladesh, Malaysia and Thailand.
was represented by Mr. Ali Siddiqui, Member of the Board and Syed
Nasir Ali, Managing Director, at the signing ceremony in Washington
Ambassador of Pakistan Mahmud Ali Durrani attended the signing and
said We are very proud of what airblue is doing; it proves
that the private sector can do wonders.
Kaldany, IFC Director for Infrastructure said, The World Bank
Group has targeted transport as one of the key sectors for improvement
supporting airblues growth, we hope to communicate the availability
of financing for young private companies that are expanding to encourage
private sector participation in the sector.
a member of the World Bank Group, fosters sustainable economic growth
in developing countries by financing private sector investment,
mobilizing private capital in local and international financial
markets, and providing advisory and risk mitigation services to
businesses and governments.
vision is that poor people have the opportunity to escape poverty
and improve their lives.
FY07, IFC committed $8.2 billion and mobilized an additional $3.9
billion through loan participations and structured finance for 299
investments in 69 developing countries.
also provided advisory services in 97 countries. Airblue was launched
in June 2004 and currently operates a fleet of six Airbus A320 aircraft
the past three years, it has grown to be the second-largest airline
in the country, introducing innovations for greater customer convenience
such as e-ticketing, wireless mobile check-in and self check-in
currently has Flights to 7 major domestic cities in Pakistan; 3
daily Flights to Dubai in the United Arab Emirates and daily Flights
to Manchester in the United Kingdom.
is also inducting turboprop aircraft in its fleet in the near future.
the induction of turboprop aircraft, airblue will also be able to
provide better travel facilities to the people living in small towns
and cities of Pakistan.