UAE-based low-cost carrier Air Arabia has announced plans to launch a new budget airline in Egypt, in partnership with Egyptian tourism group Travco. 'The new carrier will serve Europe, Middle East and African markets and will represent Air Arabia's third hub after UAE and Morocco,' the airline said. The low-cost carrier currently serves 57 destinations across Europe, the Middle East, Africa and Asia. The Travco Group employs more than 24,000 people and operates 146 hotels, resorts and cruises in Europe, Egypt and the Middle East.