ISLAMABAD: The Federal government has granted approval of issuance of regular public transport licence (passenger and cargo) to an aviation sector company without getting proper information about financial standing of the group, well informed sources told Business Recorder.
Aviation Division, sources said, briefed the Cabinet on May 18, 2021 that M/s Fly Jinnah Services (Pvt.) Limited is owned by a group of businessmen associated with different industries including travel, fast moving consumer goods, power, technology, etc. that intends to launch a Regular Public Transport (RPT) airline in Pakistan. The company had requested for issuance of RPT licence (passenger & cargo).
Pakistan Civil Aviation Authority (PCAA) had certified that the company had fulfilled all the conditions prescribed in National Aviation Policy-2019 and relevant rules/regulations for issuance of the licence. PCAA has confirmed that M/s Fly Jinnah Services (Pvt.) Limited has loss free paid-up capital.
PCAA has confirmed that the company has plans to initially induct 3 Aircrafts (preferably Airbus A320) on dry lease basis and will subsequently increase its fleet size to 5 by 2nd year and to 6 by the end of 5th year of operations. PCAA has confirmed that the company is registered with SECP in the name of an aviation sector company with 2 directors.
PCAA has confirmed that the company has inducted Shahnawaz Haider Nawabi as its Director and Chief Executive who holds an MBA from Harvard University and serves as Director on the Board of 3 companies including Public un-listed and private companies.
PCAA has confirmed that concerned Directorates of PCAA have not raised any objection.
The company has given an undertaking to PCAA that aviation sector company shall comply with the respective NAP, CARs, 1994, AN0s, Flight Safety Circulars Airworthiness Notices and any instruction issued by PCAA/ Federal Government from time to time.
Moreover, Ministry of Interior has also granted necessary security clearance to the company as required under Article 4.3.6 of NAP-2019.
Aviation Division supported issuance of RPT Licence (passenger & cargo) to the airline. Under rule 177 (1) of the Civil Aviation Rules 1994 of NAP-2019 the Federal Government is the competent authority for issuance of RPT Licence.
The sources said, during discussion in the Cabinet some members enquired about the financial standing of the group. Civil Aviation Division noted that the company has fulfilled the paid-up capital requirements of CAA rather than answer the question.
Copyright Business Recorder, 2021