Last Updated:
This new airline will offer flights to popular holiday spots including Seychelles, Maldives, Bali, Bora Bora, Fiji, and Hawaii.
Damac Properties awarded contracts worth more than Dh7 billion in the first half of 2024 across its projects.
Damac Properties, a major private developer in Dubai, is preparing to enter the luxury airline sector with its own carrier, Damac Air. This new airline will offer flights to popular holiday spots including Seychelles, Maldives, Bali, Bora Bora, Fiji, and Hawaii.
Through teasers on social media, Damac has hinted at what’s to come, while Khaleej Times has reached out for more details. “We offer unparalleled journeys capturing the essence of the world’s most coveted tropical paradises,” states the airline’s website.
As the first airline founded by a private UAE developer, Damac Air is promoting its launch by offering registrants a chance to win a free trip. Describing its approach, the airline emphasized, “Damac Air is more than travel. It’s a lifestyle blending exotic thrills with home comforts. We’re not just changing how you vacation; we’re transforming how you live.”
Damac Air’s debut will place it in competition with other regional players such as Beond and Rotana Jet. Beond, which launched earlier this year as a premium leisure airline, began its operations with a route from Dubai’s Al Maktoum International Airport (DWC) to the Maldives.
Dubai’s rising status as a global hub for affluent individuals, including over 72,500 millionaires and 15 billionaires, is fueling demand for luxury air travel. In October of the previous year, Moody’s revised Damac Real Estate Development Limited’s outlook to positive, affirming its ‘Ba2’ rating on $600 million senior trust certificates due in 2027. This change was attributed to Damac’s strong sales, active construction, and sound financial management.
In addition, Damac Properties awarded contracts worth more than Dh7 billion in the first half of 2024 across its projects, highlighting its stability in the real estate market.
