Daallo Airlines Media release

[yawle]

DAALLO Airlines enters into a strategic partnership with Istithmar and the Government of Djibouti


15 November 2007

DAALLO Airlines has entered into a strategic partnership with Istithmar World Aviation Holdings, an investment arm of Dubai World, and the Government of Djibouti to enhance and promote air transportation services in Africa.

The venture will focus on developing DAALLO Airlines current routes and networks, expanding to new markets in Africa with the ultimate aim of becoming a premiere carrier in Africa with special focus on the Horn of Africa and COMESA region. A modern fleet of western aircraft will be used on all routes with strict adherence to international standards in safety and security. All aspects of DAALLO Airlines operations will be significantly improved to ensure a world class service is provided to our customers.

In collaboration with the regional governments, the new venture will contribute significantly to the region’s economic development activities by promoting trade and tourism and developing the air transport infrastructure. With the addition of extra capacity (cargo & passenger) on all sectors and the expansion to new markets, the region will benefit from increased flow of people and products which will facilitate closer regional economic integration.

All parties to this strategic partnership bring valuable contributions to the success of this venture. DAALLO Airlines will bring extensive aviation experience and deep knowledge of the African air transportation industry – as well as a large network of routes. Istithmar which has significant airline portfolio will bring along financial and technical expertise. The Government of Djibouti will help transform Djibouti international airport as a regional hub and promote DAALLO’s expansion into COMESA.

DAALLO Airlines was founded by Mohamed Hajji Abdillahi Abusite and Mohamed Ibrahim Yassin (Olad) in 1991. DAALLO has a very successful track record of over 17 years, gaining enormous expertise in Africa’s aviation industry. DAALLO has become a major regional airline and has developed a brand name with reputation for reliability.

Istithmar is a major investment vehicle with an expanding global investment portfolio. An investment arm of the Government of Dubai, Istithmar -- along with its parent company, Dubai World, has invested heavily in large projects in Djibouti, the seat of DAALLO Airlines.

The Government of Djibouti, which has just celebrated 30 years of independence, is a model of international investment cooperation. Benefiting from a great strategic location, Djibouti has attracted significant foreign direct investment in the last couple of years.

“We will work with our new partners to achieve a significant market share in the travel business in the COMESA region, which has tremendous growth potential. With our extensive experience in Africa and the support of our new partners, we will fulfill that ambition.

For us, this strategic partnership is a fulfillment of a long-held ambition to transform DAALLO into a formidable regional carrier by attracting respectable strategic partners that share our vision. It is a culmination of an improvement and transformation process which we started a few years back, when we resolved that DAALLO should realign its business strategy to be able to keep up with the fast moving global changes in the aviation industry”

Mohammed Haji Abdullahi Abusita



“We are very excited about this deal which has many positive aspects. We are teaming up with an international investment group that has significant aviation interests, expertise and resources. This will enable DAALLO Airlines to acquire new aircraft, modern systems and access to new markets. The main beneficiary of this Deal will be our clients who will benefit from the airline’s enhanced capabilities and improved performance This strategic partnership is a milestone in DAALLO’s successful history, a capstone of the company’s achievements over the years. After nearly two decades of uninterrupted organic growth, DAALLO has started building strategic alliances with regional and international players that can contribute to our vision of becoming a major African carrier”. Mohammed Ibrahim Yassin (OLAD)



This transaction will benefit the entire DAALLO family – including staff, clients, suppliers and strategic partners and the communities of the region we have been serving proudly for over 17 years.


At this juncture, where we are celebrating a significant milestone in DAALLO Airlines recent history, we would like to thank our loyal staff on making this strategic transaction possible and our clients for their trust over the years. Special thanks go the Governments of Djibouti, Somalia and Somaliland for their continuous cooperation and support.

[Executive]

[quote="yawle"]
DAALLO Airlines was founded by Mohamed Hajji Abdillahi Abusite and Mohamed Ibrahim Yassin (Olad) in 1991. [/quote]

Daalo is Olaad backwards.


I knew this shit didnt have anything to do with Daalo Sanaag.

[The_Emperior5]

lol daallo sanaag

ahahahhaahahhahaaaahaha

[yawle]

Executive
Why do you care since both Daallo are HY.

[Advocatar]

Disappointment.


Went from somali owned (gotta be proud of that) to being sold to piece of excrement in khamiis.sad.