Libyan Wings started commercial operations in October 2015, but the plan for the new airline was formulated as far back as 2013, in response to the need to create stable, modern and reliable air transport services for the Libyan people.
The shareholders, a group of enterprising Libyan businessmen, saw the creation of a new airline, not only as enablers to facilitate the movement of communities and goods to and from the region, but also as an important representation and contribution to rebuilding the country.
They recognised that a new airline could form part of the country’s new identity, facilitating trade and new investments and envisioned it as being a source of pride for the Libyan people. There were sound commercial reasons behind the start-up decision, with a specific focus on tapping demand spurred by the revival of the country’s construction and oil and gas industries.
Libyan Wings was formed as a private enterprise Joint-Stock Company with a start-up capital of 15,000,000 Libyan Dinars (LYD) where an initial 150,000 shares were issued at a value of LYD 100 per share, a figure which was subsequently raised to LYD 35,000,000. There are plans to further raise the capital at different milestones over the next five years.
As the country embarks on its path to stabilise and rebuild, Libyan Wings aims to be an important contributor to the country’s air transport industry and related business activities such as airport development, cargo and technical services.
The airline views itself as a key stakeholder in facilitating trade and new investments from regional and international markets.
The company is headquartered at Mitiga International Airport, just 8 kilometres outside Tripoli. In addition to serving as the administrative centre, the airport will also function as the flight hub providing a choice of convenient flight schedules and connectivity to select destinations planned by the airline.
In basing itself at Mitiga, Libyan Wings also intends to help improve in the future, the airport’s infrastructure and services, with plans to invest in a wide range of upgrades in order to create a better travel experience for its customers.