Today's Edition
KHALED AL KHAWALDEH (ABU DHABI)
DAMAC Properties, one of the UAE's largest developers, has launched a new luxury airline, in what will be its first foray into the aviation sector. Jetting to several exotic locations including Bali, Maldives, Hawaii, Seychelles, Fiji and Bora Bora, "DAMAC Air" promises to "redefine luxury travel" although details of its plans remain scant.
The launch was announced last week, with its website offering free flights for early registrants, though there is as yet no information on the frequency of flights, or what sort of packages will be available to passengers.
The airline appears to be launching in tandem with DAMAC's ambitious Dubai Islands project, a luxury waterfront development that will be split into areas named after the same tropical destinations that the new airline claims it will be flying to in future.
Aletihad attempted to contact DAMAC for further information or clarification but did not receive an answer by the time of publishing.
Previous attempts to break into the luxury aviation market by top brands have taken the form of partnerships with major airliners.
Mercedes-Benz partnered with Lufthansa and Emirates, which saw the luxury car manufacturer help design and build their first-class lounges.
It is unclear whether the new airline will follow a similar partnership model, or whether the developer will acquire and run its own fleet, similar to charter services like Rotana Jet.
This isn't stopping the company from downplaying the hype, as DAMAC Properties Managing Director, Ali Sajwani, told customers on social media platform X to "buckle up" in preparation for the new airline.
Henley & Partners, a consultancy that helps the wealthy with gaining residency and citizenship, projects that more than 6,700 millionaires will relocate to the UAE in 2024, positioning the country as a top destination for high net-worth individuals.
It is also expected that the number of ultra-wealthy individuals with assets over $100 million in Dubai is expected to grow by 150% by 2040.
All of this has created an explosion in demand for private and luxury flights, with advisory firm Creative Zone predicting that the Middle East's private jet market, valued at $566 million, could soar to $943 million by 2029.
