Karachi’s Businessmen announced to established Air Karachi

Atif Ikram Sheikh, President of the FPCCI, announced a game-changing initiative for Pakistan’s aviation industry. A strategic alliance of top businessmen has been formed to launch a much-needed world-class airline, named Air Karachi, with its head office based in Karachi. This mega-venture is a collaborative effort by prominent business leaders and corporate investors, including Mr. Atif Ikram Sheikh as 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 airlines sector.

Mr. Atif Ikram Sheikh, President of FPCCI, has revealed that the alliance of prominent businessmen has already committed an initial seed money of Rs. 5 billion. Furthermore, additional investments and financing will be provided as needed for the expansion of the fleet, infrastructure, new domestic routes, and international operations.

FPCCI Chief highlighted that Air Karachi has been registered with Securities & Exchange Commission of Pakistan (SECP); and, it plans to immediately lease 3 top-notch aircrafts to kick-start the domestic operations. The next phase will see the launch of international operations soon enough – with the aim to regain the lucrative international routes where once the commercial planes carrying Pakistani flag used to fly high and proud, he added.

Mr. Atif Ikram Sheikh emphasized that the core guiding principle of Air Karachi will be to achieve profitability through operational and managerial efficiency, rather than through profiteering or price gouging. He explained that this approach ensures price competitiveness, strong value propositions, growth, expansion, and sustainability.

“We need to bring this model to Pakistan,” he added, highlighting the importance of adopting best practices that promote a sustainable and efficient aviation sector in the country.

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.