Damac Properties, one of Dubai’s leading private real estate developers, is set to launch its own luxury airline, Damac Air. This new venture promises to offer an exceptional travel experience with a focus on premier destinations, including the Seychelles, Maldives, Bali, Bora Bora, Fiji, and Hawaii. Promotional materials, including teaser videos, have been circulating on Damac’s social media platforms, generating excitement around the new airline’s offerings. According to the airline’s website, it aims to provide “unparalleled journeys that capture the essence of the world’s most coveted tropical paradises.”
Damac Air will be the first airline established by a private developer in the UAE, marking a significant expansion of Damac’s business ventures. Travelers can register on the airline’s website for a chance to win a free trip, further building anticipation.
In its mission statement, Damac Air describes itself as more than just a travel service, positioning itself as a luxury lifestyle brand that blends “exotic thrills with home comforts.” The airline promises to revolutionize the way people vacation and live, offering a new era of luxury travel where dream getaways are within reach.
With the launch of Damac Air, the company will compete with other luxury airlines like Beond and Rotana Jet. Beond, the world’s first premium leisure airline, started operations in April 2024 with its inaugural flight from Dubai’s Al Maktoum International Airport to the Maldives. Dubai, known for its appeal to high-net-worth individuals, with around 72,500 millionaires and 212 cent-millionaires, offers a strong market for luxury travel, and demand for services like Damac Air is expected to grow.
Damac Properties has seen significant financial growth, further bolstering the credibility of its new airline venture. In October 2023, Moody’s Ratings upgraded the outlook for Damac Real Estate Development Limited from stable to positive, citing strong sales, active construction, and sound cash flow management. In the first half of 2024, Damac Properties secured over Dh7 billion in contracts for projects, solidifying its position in the real estate sector and enhancing its reputation as a key player in the UAE’s luxury market.
