Damac Properties, one of Dubai’s top private developers, is preparing to launch Damac Air, its luxury airline.
The airline has revealed six premier travel destinations: Seychelles, Maldives, Bali, Bora Bora, Fiji, and Hawaii. Teaser videos and other promotional content have been circulating on Damac’s social media channels, and Khaleej Times has reached out for additional information. “We offer unparalleled journeys capturing the essence of the world’s most coveted tropical paradises,” says the airline’s website.
Damac Air will be the first airline founded by a private UAE developer, offering travelers a chance to win a free trip by registering on its website.
In its mission statement, the airline describes itself as “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.”
Damac Air’s market entry puts it in competition with brands like Beond and Rotana Jet. Beond, known as the world’s first premium leisure airline, launched its inaugural flight from Dubai’s Al Maktoum International Airport (DWC) to the Maldives in April 2024.
With Dubai’s global appeal for high-net-worth individuals—housing approximately 72,500 millionaires, 212 cent millionaires, and 15 billionaires—the demand for luxury airline services continues to grow, appealing to this affluent clientele.
Last October, Moody’s Ratings upgraded Damac Real Estate Development Limited’s outlook from stable to positive and affirmed its Ba2 credit rating and the rating on its $600 million senior unsecured trust certificates due in 2027. This revision reflected Damac’s strong sales, active construction, improved credit metrics, and consistent cash flow and liquidity management.
Additionally, in the first half of 2024, Damac Properties awarded over Dh7 billion in contracts for projects across its portfolio, strengthening its position in the industry.
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