Fly Baghdad is planning European flights next year and an initial public offering in 2020


The company plans to start flights to Europe and India next year, expanding its network beyond the Middle East, and plans to list in the stock market in 2020, the chief executive of low-cost airline Fly Aviation said on Wednesday.
Baghdad, owned by Iraqi investors, was launched in 2015 to compete with state-owned Iraqi Airways, one of the oldest airlines in the Middle East and a few other privately owned airlines.
“There is a huge population that has money and there are not many places to visit in Iraq,” said Ali Al-Hamdani, executive director of Dubai’s industry sector. Everyone talks about travel. ”
The Baghdad-based fleet consists of two Boeing 737-700 aircraft with 149 seats and one Bombardier SRJ 200 aircraft with 50 seats used for trips to the cities of Erbil and Sulaymaniyah in northern Iraq, Istanbul in Turkey and Amman.
Al-Hamdani said Flay Baghdad will begin talks with local and European regulators early next year to launch European routes that will target Iraqi expatriates abroad.
Al-Hamdani, the former chief executive of Air Arabia, led the restructuring of the Baghdad Falai after his appointment last year, including a temporary suspension of its fleet.
Flydu aims to start earning profits next year after adding flights to Frankfurt in Germany, Malmo in Sweden and Delhi in India as part of a proposed network expansion that will also include Dubai.
And the national carrier Iraqi Airways banned in Europe since 2015 because of problems related to compliance with safety standards.
Baghdad plans to fly about one million passengers next year if it goes ahead with the proposed expansion of its network, compared with the 300,000 passengers it is expected to transport this year.
Al-Hamdani said Falai Baghdad would lease a Boeing 737-700 and a Boeing 737-800 next year for use on the proposed new routes, adding that the fleet would have six to eight aircraft by 2020, the year it plans to issue an initial public offering.
He said it was too early to talk about the location of the listing or the outcome that the company aspired to collect.
Baghdad flyers will start flights to Ankara in Turkey and Beirut in Lebanon next month.

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