Air Arabia signed a joint venture agreement with Yeti Airlines and received approval from Nepal Government’s Department of Industries (DOI) to form a Kathmandu-based low-cost carrier called Flyyeti.com.

Flyyeti.com’s business plan shows Sharjah in UAE as the first destination before serving Bangkok in Thailand, Doha in Qatar, Delhi in India and Kuala Lumpur in Malaysia from Kathmandu.

Air Arabia is looking at exporting its successful low-cost business model in Asia and aims to establish a new hub in the Nepalese capital, Kathmandu, providing a platform from which to serve markets stretching across South and Central Asia, the Far East, Middle East and Indian Subcontinent.

Air Arabia said its Nepali joint venture has a capital of Dh184m ($50 million). Under the terms of the agreement, Air Arabia is a major shareholder in the new company that it is heade

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