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Sharjah’s Sky One to acquire stake in Libyan airline

Fly Ola
Fly Ola resumed passenger flights from Tripoli to Dubai in July

Sharjah-based aviation service provider Sky One has signed memorandums of understanding to acquire a stake in Libyan airline Fly Oya and Uplift Airport Services, a ground-handling company based at Bucharest International Airport.

Fly Oya resumed passenger flights from Tripoli to Dubai in July, ending a nine-year hiatus in connectivity between the two Arab cities. In addition, the Libyan airline, which was established in 2018, flies to Alexandria, Jeddah, and Istanbul.

The final terms of the agreement are yet to agreed. No financial details or percentage of stake acquisition were given.

“Fly Oya is a significant property with sizable assets that we have acquired a stake in,” said Jaideep Mirchandani, chairman of Sky One, said of the Libyan airline.

Uplift Airport Services is licensed to provide services for passengers and aircraft, such as ramp, cargo, ticketing, and catering handling services, in addition to general aviation services for various types of flights, including business, VIP, and military operations. 

Uplift has more than 200 employees, providing support to airlines such as passenger check-in, baggage handling, cargo services, catering and aircraft de-icing.

“Sky One will continue to pursue its strategy of expanding organically as well as through acquisitions,” Mirchandani added.