Sky One has signed a Memorandum of Understanding (MoU) to acquire a "substantial stake" in Libya's FLY OYA (YI, Tripoli Mitiga) subject to final terms negotiations. The Sharjah-based holding did not disclose the exact size of the stake or the value of the transaction.

"FLY OYA is a significant property with sizeable assets that we have acquired. We see FLY OYA as an integral part of our journey to enhance our aviation offering throughout the globe," Chairman Jaideep Mirchandani said.

The Libyan carrier operates one A320-200 and one A330-200 (leased from Sky One). Besides domestic flights within Libya, it also proffers scheduled services from Tripoli Mitiga to Tunis, Istanbul Airport, Alexandria Borg el Arab, and Dubai World Central, and from Misurata to Tunis.

During the same press conference at the Dubai Airshow 2023, Sky One announced the acquisition of a Romanian groundhandling provider Uplift Airport Services, which is active at Bucharest Henri Coanda, Cluj-Napoca, Bacau, and Iasi airports.

Besides owning and managing aircraft and providing various services to the aviation industry (including maintenance, spare parts, consulting, and brokerage), Sky One also backs two passenger carriers: Aero Nomad (KA, Bishkek) in Kyrgyzstan and Zooom Airlines (ZO, Delhi International) in India. The company did not respond to ch-aviation's request for more details about its plans for FLY OYA. It said in the press release that further acquisitions were on the table.