The airline, named Air Karachi, is headed by leading business figures from Karachi and is modeled on the success of Air Sial — a similar initiative launched by industrialists in Sialkot.
Its founders aim to build a business-backed airline offering operational efficiency and financial autonomy, particularly in light of ongoing challenges faced by the national carrier, Pakistan International Airlines (PIA).
“Yes, we got the license from CAA,” confirmed Hanif Gohar, one of the airline’s key stakeholders, in an interview with Arab News. “We are looking for aircraft and will start with three aircraft soon.”
The CAA granted the RPT license to Air Karachi on June 5.
As part of the licensing conditions under Pakistan’s National Aviation Policy 2023, the airline has been instructed to deposit a license issuance fee of Rs500,000 ($1,750) and a security deposit of Rs100 million ($350,000). It must also raise its paid-up capital to Rs600 million ($2.1 million) before it can commence operations.
Air Karachi is registered with the Securities and Exchange Commission of Pakistan (SECP) and plans to raise a total of Rs5 billion ($17.5 million), with 100 shareholders each contributing Rs50 million ($175,000).
The airline will be led operationally by retired Air Vice Marshal Imran Qadir, who has been appointed chief operating officer. He will be supported by a team of former Pakistan Air Force officials with experience in the aviation sector.
Air Karachi plans to launch its services with three aircraft for domestic routes and gradually expand its fleet to seven. After completing the mandatory one-year domestic run, it aims to begin international operations, starting with flights to destinations in the Middle East.