Feb 27, 2025
GEORGIA GROWTH FUND AND ROYAL PHILIPPINE AIRLINES SIGN $100 MILLION MOU TO ESTABLISH NEW AIRLINE AND BOOST AVIATION SECTOR IN GEORGIA
On February 27, 2025, Georgia Growth Fund signed a Memorandum of Understanding (MoU) with Royal Philippine Airlines.
The purpose of this document is to attract investment in the Georgian aviation market and establish a new Georgian airline.
According to the memorandum, the parties will form a joint working group starting in March 2025 to discuss project details and assess the prospects and opportunities of the local aviation sector. As part of the visit, meetings with relevant government agencies are also planned.
The investor has expressed readiness to acquire a total of 10 aircraft.
Under the terms of the memorandum, the parties intend to operate direct flights from Tbilisi to destinations in Europe, Asia, and the Persian Gulf.
The goal is to launch the first flight no later than June 2027, while specific destinations and flight frequency will be determined based on market research and technical-economic feasibility studies.
As part of the memorandum, the parties agree on a $100 million investment, which will be implemented in three phases.
This project is expected to strengthen Georgia’s role as an air transport hub and increase the flow of tourists from both Asia and Europe.
