Karachi businessmen have got a license for a new airline named Air Karachi, the media reported on Wednesday.
As per the report, the Civil Aviation Authority has issued a regular public transport license with the approval of the Ministry of Defense in this regard.
According to aviation sources, the CEO of Air Karachi Limited has been directed to deposit Rs 100 million as a security deposit and Rs 500,000 as a license fee.
Air Karachi has also been asked to submit a form related to SECP, a bank statement, and a certificate from a chartered accountant based on the presence of paid-up capital. Aviation sources say that the new airline will need another 2 months to start flights.
Air Karachi boasts an impressive roster of investors from Karachi’s business elite. Founding shareholders include Aqeel Karim Dhedhi (AKD Group), Arif Habib (Arif Habib Limited), Bashir Jan Muhammad, Khalid Tawab, Zubair Tufail, Hanif Gohar, and Hamza Tabani. Each has committed Rs50 million in seed funding, with further investment rounds expected in the future.
