The group chief executive officer of Air Arabia has highlighted the significant global growth opportunities of low cost carriers (LCC) at the World Low-Cost Airline (WLCA) Congress in Barcelona, Spain.
Speaking on the final day of the congress, Adel Ali told more than 100 senior executives from low-cost and traditional carriers that the continued geographic expansion of LCCs based in the Middle East and North Africa (Mena) heralded the coming of age of this vital sector.
“As low-cost carriers continue to grow their fleets and geographic footprints, it is clear that we are now competing on a global platform,” said Ali.
He pointed out that such ‘regional champions’ are now increasingly recognised as global brands.
“Despite the extremely challenging conditions facing the aviation sector worldwide, LCCs in the Mena region, with their revived focus on commercial sustainability, are seizing the opportunity to grow their global market share,” he added.
“Importantly, this is happening at a time of increased regional competition and rapid deregulation of our skies.”
Following its initial public offering in 2007, Air Arabia became the first airline in the Arab world to go public, focusing on self-financing its growth plans and fleet expansion.