Developer to Offer Exclusive Flights to Top Holiday Destinations
Damac Properties is one of the largest private real estate developers in Dubai and plans to make a joint entry into the luxury airline business with its own carrier, Damac Air. This new airline will cater directly to high-end travellers to some of the world’s most prized destinations, allowing for such fantastic summer getaways as Seychelles, Maldives, Bali, Bora Bora, Fiji, and Hawaii.
PC: Arabian Business
The company has teased social media to create much anticipation for the launch of Damac Air. Indeed, statements on the website of the airline include plans for “unparalleled journeys capturing the essence of the world’s most coveted tropical paradises.” The new venture, Damac Air seeks not to be any conventional airline in the first place but one that operates like a brand above all else, redefining travel with exotic destinations coupled with luxurious comfort made to feel homely.
A First for UAE’s Private Sector
Damac Air is an airline first created by a private UAE developer, which sets the new landmark in the region’s luxury travel industry. Celebrating its launching operations, the airline is offering the potential customers the chance to win a free trip as an incentive to take account of this airline even more dearly and pay more attention these days, especially to them as high-class travellers. All in all, the marketing efforts of the company suggest that Damac Air aims to create something much more than just a vacation: luxury and adventure will be “a lifestyle” at the intersection.
“We are not changing the way you vacation; we change the way you live,” the airline declared, hinting at this exclusive blend of high-class services and exotic experiences designed to attract and satisfy affluent clients.
Regional Competition
Damac Air will join a rapidly growing and becoming increasingly competitive regional market that also includes high-end carriers such as Beond and Rotana Jet. Beond is a luxury airline established in 2022, and it flies out from Al Maktoum International Airport in Dubai to the Maldives catering mainly to exclusive leisure travellers. The entry of Damac Air will be an extra option to the customers who may heighten competition in a luxury air travel segment.
Backed by Dubai’s Status as Global Hub
With over 72,500 millionaires and 15 billionaires in Dubai today making it become even more of a global luxury travel hub, such demand for luxury travel is being continuously increased, thus Damac Air, now launched to meet such demand by Damac, will therefore offer comfort and convenience in holidays to the wealthy citizens of the city as an attractive service.
A good reputation in the real estate sector has trailed Damac into its new aviation-related deal. In fact, the company just received notice from Moody’s. Indeed, according to Moody’s, Damac Real Estate Development Limited’s outlook was revised to positive in October. That fact indeed confirmed a rating of ‘Ba2’ on $600 million in senior trust certificates due in 2027. This was attributed to consistent sales growth, active construction projects, and an effective fiscal approach managed by Damac.
In addition, this results in securing contracts of over Dh7 billion in the first half of 2024. The stability of the company through this achievement is marked further, as well as its desire to expand its business interests beyond real estate.
