A new low-cost carrier is to be established in Egypt serving Europe, Africa and Asia.

Air Arabia has signed a joint venture with Egyptian travel and hospitality group Travco to establish the carrier in the country.

The airline already operates from the UAE and Morocco flying to almost 60 destinations.

The new carrier, whose operations will be managed by the Air Arabia Group, will follow the low-cost model pioneered in the Middle East and North Africa by Air Arabia.

Further information on the joint venture will be communicated in the near future, a company statement said.

Air Arabia, which runs a fleet of 20 Airbus A320s, launched services from Sharjah, UAE, in October 2003.

In May this year, the airline estbalished its second hub in Casablanca, providing services to 11 destinations.

The airline has an order with Airbus for the purchase of 44 A320s.

Chairman Sheikh Abdullah Bin Mohammed Al Thani said: “At a time when the global aviation industry is witnessing serious challenges as a consequence of the worldwide financial crisis, we continue to move forward with our strategic expansion strategy, as demonstrated by this important announcement.

“Through this new partnership, we look forward to replicate the success Air Arabia has already achieved from its existing hubs.”

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