SIALKOT: The Sialkot Chamber of Commerce and Industry (SCCI) has said that the business community in the city is working towards launching its own airline.
“The local business community has pooled in resources to launch its own airline in the near future and necessary formalities are being followed to materialise the project,” said SCCI President Fazal Jilani.
Jilani said that the local business community has joined hands to execute the airline project. “The initial proposed paid up capital of the company is Rs2 billion, which would be raised by issuance of shares to the prospective investors,” he disclosed.
SCCI president said that the initial work required to constitute a public limited company by the name of “Air Sail” has already been completed and after finalising list of promoters, relevant documents would be submitted to the Security and Exchange Commission of Pakistan.
“After completion of the Sialkot airport, a lack of effective air transportation was felt, which would be cost effective for the exporting city,” he said.
To a question, Jilani said efforts were being made for obtaining a licence from the Civil Aviation Authority (CAA) for regular public transport (RPT), adding that the company, after obtaining the RPT licence, would apply for Air Operators Certificate (AOC).
Published in The Express Tribune, September 12th, 2015.