Syphax expansion set to include New York and Tokyo flights

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Tunisian carrier Syphax Airlines plans to add flights to Beijing and Montreal this year as part of an expansion of its international network under which it is also targeting flights into the UK and Germany as well as to New York, Tokyo and Rio de Janeiro.

Syphax, which hopes to raise 25 million dinars ($15.6 million) through an initial public offering to support its expansion, launched flights in March last year using a pair of Airbus A319s under five-year leases. It already operates flights to Paris and Marseille in France, Istanbul in Turkey, the Morrocan city of Casablanca, and Tripoli and Sebha in Libya.

The carrier will shortly take delivery of an Airbus A330 ahead of it the launch of long-haul flights to Beijing and Montreal later this year. The carrier's IPO prospectus also shows that Syphax plans to add services to Jeddah in Saudi Arabia and the Ivory Coast city of Abidjan this year.

In 2014, the Tunisian carrier plans to launch flights to the UK from both Syphax and Tunis, as well as flights to Germany and Italy. Long-haul additions next year will include New York, Tokyo and Rio de Janeiro.

To accommodate the growth, Syphax plans to add five A319s/A320s for regular flights through 2017, as well as up to three Airbus A320 family aircraft for charter services. The carrier is taking delivery of an ex-Emirates A330-200 this summer for its launch of long-haul flights and plans to add another aircraft of the type in 2014.

The IPO prospectus shows Syphax expects to report a 13.9 million dinar operating loss for the year 2012 and a 7.4 million dinar loss this year. According to its business plan, the carrier anticipates a 16.9 million dinar operating profit in 2014 and 39.5 million dinars in 2015.