Damac Properties, one of Dubai’s premier private developers, is set to make waves with the launch of Damac Air, its own luxury airline. The airline is planning exclusive routes to six dream destinations: Seychelles, Maldives, Bali, Bora Bora, Fiji, and Hawaii.

Damac Air has been teasing its entry on social media, while Khaleej Times has reached out to the company for more insights. According to the airline’s website, “We offer unparalleled journeys capturing the essence of the world’s most coveted tropical paradises.”

This launch makes Damac Air the first airline established by a private UAE developer. The airline is offering an opportunity for individuals to win a free trip just by registering on its website.

Describing its brand vision, Damac Air shared, “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. Welcome to a new era of luxury, where dream getaways await.”

Market Positioning and Competition

Damac Air will enter a competitive landscape alongside airlines like Beond and Rotana Jet. Beond, which launched its first premium leisure flight from Dubai’s Al Maktoum International Airport (DWC) to the Maldives in April 2024, also targets high-end travelers.

Dubai: A Hub for High-Net-Worth Individuals

Dubai has firmly established itself as a hub for high-net-worth individuals, with around 72,500 millionaires, 212 centimillionaires, and 15 billionaires. This affluent clientele drives demand for luxury airlines catering to their lifestyle and travel preferences.

Damac’s Financial Performance and Growth

In October 2023, Moody’s Ratings revised Damac Real Estate Development Limited’s outlook from stable to positive, affirming a corporate credit rating of ‘Ba2’ due to factors such as strong sales, active construction, and robust cash flow. Additionally, in the first half of 2024, Damac awarded over Dh7 billion in contracts for various projects, reinforcing its solid position in the real estate sector.

Source: khaleejtimes.com