Arajet: First ultra low cost airline in the Caribbean region launched

Santo Domingo: Arajet- dubbed as the first ultra-low-cost airline in the Caribbean region, has been launched in the Dominican Republic.  The airline is a full-fledged relaunch of Dominican Wings, a former low-cost carrier.

With a fleet of Boeing 737-8 aircraft, it will be based at Santo Domingo's Las Americas Airport. The goal, according to the company, is to start with flights to the Caribbean and Central America.

According to a statement, Arajet plans to expand flights to "key North American markets" later this year, notably "populations with extensive familial ties to the Dominican Republic." According to the corporation, this also includes flights to New York, Boston, Miami, and Chicago.

Arajet will operate a fleet of new Boeing 737-8 aircraft, with "solid orders, purchase options, and lease agreements in place" for the first 40 aircraft, according to the company.

"Low-cost airlines underserve the Dominican Republic and the wider Caribbean region, and travellers need a more economical method to travel in our market," said Victor Pacheco, founder and CEO of Arajet.

"We believe Arajet is in a strong position to develop Santo Domingo Airport into a modern, new hub for destination and connecting traffic," says the company.

Pacheco and Mike Powell, the former chief financial officer of Wizz Airlines, is placed in charge of the company.

Griffin Global Asset Management and Bain Capital have invested in the company.

"We're excited to support Arajet as they establish themselves as a leading ULCC in the Dominican Republic by providing the financial and operational resources that will allow the airline to significantly scale its operations and serve more customers," said Matt Evans, a Managing Director at Bain Capital.

The airline will soon commence its operations, providings easy access to within and beyond the region. The air carrier will certainly fulfil the requirements of affordable airfare in the region.