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UK Global Airlines Pursues Investment from Saudi Arabia

UK Global Airlines Pursues Investment from Saudi Arabia
Strategic Investment Talks and Growth Ambitions
Global Airlines, a British start-up based at London City Airport, is reportedly engaged in discussions with Saudi Arabia’s Kingdom Holding Company regarding a potential investment. According to Aviation Week, this prospective funding could enable the airline to expand its Airbus A380-800 fleet from a single aircraft to four, representing a significant milestone in its growth strategy.
While Global Airlines has acknowledged ongoing conversations with various financial partners about its future, it has not confirmed any involvement by Kingdom Holding Company or other specific investors. Both parties declined to comment on inquiries, leaving the details of the negotiations undisclosed. Speculation has emerged suggesting that the investment might prompt Global Airlines to shift focus from scheduled transatlantic flights to the ACMI (Aircraft, Crew, Maintenance, and Insurance) market, particularly servicing Hajj operations. The airline has firmly denied these claims, reaffirming its commitment to becoming a scheduled carrier. In a recent statement, Global Airlines emphasized its dedication to its original vision despite the challenges ahead, rejecting any pivot toward an ACMI business model.
This development follows an earlier announcement that Knighthood Global, a consultancy and investment firm, plans to acquire a stake in Global Airlines. Knighthood Global has been engaged to provide strategic advice and support, highlighting the airline’s efforts to strengthen its financial and operational foundation.
Ownership, Operations, and Future Prospects
Currently, Ihtg Limited (formerly Holiday Swap Group Limited) holds a majority stake exceeding 75% in Global Airlines. James Asquith, the airline’s founder and CEO, is the principal owner of Ihtg Limited, while the identities of other shareholders remain undisclosed.
Global Airlines launched operations with its inaugural flight from Glasgow International to New York JFK on May 15. As the airline has yet to secure a UK Air Operator Certificate (AOC), this flight was operated by its ACMI partner, Hi Fly Malta. After a second rotation between Manchester and New York, the airline’s sole Airbus A380-800 (registration 9H-GLOBL, msn 120) was ferried to Dresden on May 26, where it remains in storage.
Looking ahead, Global Airlines aims to obtain its own UK AOC to operate scheduled services independently, a critical step toward establishing itself as a full-fledged scheduled carrier. The pursuit of strategic investments, including the potential partnership with Kingdom Holding Company, is central to accelerating this ambition.

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