The UAE budget carrier Air Arabia has announced its decision to launch 'Fly Jinnah', a new Pakistan-based low-cost airline.

The airline will be a joint venture between Air Arabia and Lakson Group, a Pakistani business conglomerate.

Fly Jinnah will initially be based in Karachi serving a range of domestic routes across Pakistan and then will expand its route network internationally. The new carrier will follow the low-cost business model and provide its customer base with a reliable operation and value-driven product.

The carrier will "serve the strategic vision of Pakistan’s travel and tourism sector and contribute to the country’s economic growth and job creation, while providing Pakistanis with reliable and value for money air travel," said the companies in a statement.

"We are delighted at Air Arabia Group to partner with Lakson Group on this joint venture to launch Pakistan’s new low-cost carrier - we are confident that Fly Jinnah will add value to the air transport sector of Pakistan and directly contribute to the local economy through job creation and the development of travel and tourism sector," said Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia.

"We thank Lakson Group and the Government of Pakistan for their trust and we look forward to working hand in hand to develop the new airline, which will serve as a new value-for-money air travel option for the country," said Sheikh Abdullah.

Work on securing the Air Operating Certificate (AOC) - which allows the airline to start operating - will commence shortly, said the statement. More details about the launch date, fleet, and destination network will be announced in due course.