Sky One Expands Global Reach: Signs MoU for Substantial Stake in FLY OYA

Sky One, the prominent aviation player based in Sharjah, has taken a major step in expanding its global footprint by signing a Memorandum of Understanding (MoU) for the acquisition of a substantial stake in Libya’s FLY OYA, pending final terms negotiations. The exact size of the stake and the transaction’s value have not been disclosed at this time.

Chairman Jaideep Mirchandani expressed enthusiasm about the acquisition, stating, “FLY OYA is a significant property with sizeable assets that we have acquired. We see FLY OYA as an integral part of our journey to enhance our aviation offering throughout the globe.”

FLY OYA, a Libyan carrier, currently operates an A320-200 and an A330-200 (leased from Sky One). In addition to domestic flights within Libya, it provides scheduled services from Tripoli Mitiga to Tunis, Istanbul Airport, Alexandria Borg el Arab, and Dubai World Central, as well as flights from Misurata to Tunis.

In a strategic move announced during the same press conference at the Dubai Airshow 2023, Sky One disclosed the acquisition of Uplift Airport Services, a Romanian groundhandling provider active at Bucharest Henri Coanda, Cluj-Napoca, Bacau, and Iasi airports.

Apart from aircraft ownership and management, along with various services to the aviation industry, such as maintenance, spare parts, consulting, and brokerage, Sky One also supports two passenger carriers: Aero Nomad in Kyrgyzstan and Zooom Airlines in India. The company, however, did not provide additional details about its plans for FLY OYA, stating in the press release that further acquisitions were being considered. Stay tuned for more updates as this aviation giant continues to shape the future of air travel.

Sources: AirGuide Business airguide.info, bing.com, FLY OYA