Pakistan’s Aviation Industry is set to welcome a new airline in the market. Air Sial after being announced in 2013 by Sialkot’s Business community is finally set to sail in the skies. AerCap, an Irish aircraft lessor has announced that it has signed a dry lease agreement with AirSial for three Airbus A320’s.
AirSial is headquartered in Sialkot City, famous for exports of sports and surgical goods. It will start operations in the 2nd quarter of 2020. The total of three aircraft is a requirement quoted in National Aviation Policy drafted in 2015. The policy indicates that for an airline to start operation in Pakistan, it needs to operate one successful year of domestic operations with at least three operational aircraft. The age of the aircraft should be less than 12 years at the time of induction.
Air Sial is a joint venture of the business community of Sialkot city. The airport in the city is also privately owned and jointly operated by Pakistan Civil Aviation Authority and Sialkot International Airport Limited. Air Sial’s hub will be based in Karachi but corporate headquarters are based in Sialkot City.
Mr.Fazal Jilani, Chairman of AirSial Limited, said:
“I would like to congratulate and thank AerCap on this auspicious occasion for not only recognizing the potential of the Pakistan aviation market but also showing their firm belief in the Sialkot business community. We at AirSial, along with AerCap, will take our new partnership to the highest of standards and together make AirSial ‘The Pride of Pakistan’.”
Aengus Kelly, CEO of AerCap, said:
“For more than a decade, AerCap has been the biggest aircraft lessor in the fast-growing Pakistani aviation sector and we are very pleased to support a new startup airline, AirSial. With the rapid growth in air traffic in Pakistan as well as air liberalization, AirSial is well-positioned to take advantage of this opportunity. We wish AirSial every success with their new venture and we look forward to working with the AirSial team as these aircraft deliver.”
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