Skip to content Skip to Search
Skip navigation

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. 

Latest articles

A solar plant in Uyayna, north of Riyadh. Solar power will contribute to Saudi Arabia's 2030 renewable goal

Renewables target for 2030 in sight for Saudi Arabia

Saudi Arabia will expand its renewable energy output sixfold by 2030 if it continues at its current pace, a survey found this week. But it will need to add 20GW of capacity annually if it is to reach an ambitious government target laid out last year. In December the government set a new target of […]

Saudi Arabia’s GDP in 2025 should rise 6 percent, the IMF has predicted

IMF cuts Saudi GDP growth prediction

The International Monetary Fund (IMF) has cut its estimate for Saudi economic growth in 2024 to 2.6 percent in its most recent World Economic Outlook, but raised its expectation for 2025.  The IMF’s April report says it’s GDP estimate is down from the 2.7 percent in predicted in January. However, the it said that Saudi […]

reducing inflation Egypt Mohamed Maait finance minister

Reducing inflation is Egypt’s top priority, says minister

Reducing inflation in Egypt to align with the central bank’s target is the government’s main priority, the country’s finance minister, Mohamed Maait, has announced. Inflation in Egypt fell to 33 percent in March from 38 percent in September, passing the central bank’s target range of a 5 to 9 percentage point fall. Maait, speaking at […]

The Khazna facility will raise utility Ewec’s total installed solar PV capacity to 5.5 gigawatts

Developers sought for Abu Dhabi’s Khazna solar plant

Emirates Water and Electricity Company (Ewec) is seeking developers to build a 1,500 megawatt solar power facility in Abu Dhabi as the emirate ramps up its green energy drive. The utility has issued a request for proposals to qualified companies that have expressed interest in developing the Khazna Solar Photovoltaic project. A total of 27 […]