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Tag: AIR

  • Al Fakher Owner Moves Ahead with Nasdaq Listing

    Al Fakher Owner Moves Ahead with Nasdaq Listing

    Advanced Inhalation Rituals (AIR), the Dubai-based owner of hookah tobacco brand Al Fakher, is proceeding with plans to go public on Nasdaq through a merger with Cantor Equity Partners III, with the deal potentially closing in early May. The company recently submitted its second filing to the U.S. Securities and Exchange Commission, and if approved, the transaction—valuing the combined entity at approximately $1.75 billion—will move to a shareholder vote.

    “The SEC’s declaration of effectiveness of our registration statement is an important regulatory milestone in our journey to become a public company,” said AIR CEO Stuart Brazier, “and we look forward to our planned debut on the Nasdaq as a pure-play social inhalation leader in the coming months.”

    AIR reported 2025 net revenue of $400 million, up 6% year over year, with profits rising to $47 million. The company serves around 14 million consumers globally and operates across 90 markets, with manufacturing facilities spanning the Middle East and Europe. Growth remains driven by expansion in markets such as the U.S., Europe, and Saudi Arabia.

    While operations have not been directly impacted by the ongoing Middle East conflict, supply chains have faced disruption due to the closure of the Strait of Hormuz, increasing logistics costs. The company said it has rerouted shipments and is working to offset higher expenses through cost controls and selective price adjustments, while maintaining its outlook for continued growth in 2026.

  • AIR and Cantor Announce Planned Merger, Nasdaq Listing

    AIR and Cantor Announce Planned Merger, Nasdaq Listing

    AIR Limited filed a Form F-4 with the U.S. Securities and Exchange Commission tied to its planned merger with SPAC Cantor Equity Partners III, Inc., a vehicle backed by an affiliate of Cantor Fitzgerald, paving the way for a Nasdaq listing under ticker “AIIR” in H1 2026. The hookah-focused group, led by flagship brand Al Fakher, reported 2025 revenue up 6% to $400 million, profit rising to $47 million from $34 million, and adjusted EBITDA up 7% to $139 million, as CEO Stuart Brazier cited growing U.S. and global demand and the benefits of public-market access for future expansion.

  • OOKA Marketing Efforts Target Miami Music Week

    OOKA Marketing Efforts Target Miami Music Week

    Shisha brand OOKA is using Miami Music Week as a marketing platform, hosting branded activations at pool parties in The Sagamore South Beach and Kimpton Surfcomber Hotel from March 25–29. The company is targeting hospitality and nightlife channels by offering VIP guests access to its charcoal-free hookah devices, positioning the product in high-traffic, premium social settings to drive visibility and trial among adult consumers.

    The activation focuses on integrating shisha use into venue experiences, highlighting ease of operation and suitability for bars, hotels, and clubs as operators seek alternatives to traditional hookah setups. The effort reflects a broader push by OOKa’s parent company, Advanced Inhalation Rituals, to expand distribution through experiential marketing and partnerships with hospitality venues, particularly in international nightlife hubs.

  • AIR Launches ‘Crown Switch’ in Germany

    AIR Launches ‘Crown Switch’ in Germany

    AIR Limited announced today (November 20) that its flagship Al Fakher brand has officially moved into the portable vape category with the launch of its Crown Switch device in Germany. Sold online via shisha-world.com, “Crown Switch is Al Fakher’s first rechargeable pod-based vape system using disposable pods and designed without ceramics or heavy metals, differentiating it from traditional coil-and-wick devices.”

    The product is powered by Greentank Technologies’ Quantum Vape platform and Coldstream cooling system, developed through a strategic partnership formed earlier this year. AIR says the technology delivers a colder, smoother, and more flavor-forward vapor experience aligned with Al Fakher’s hookah heritage.

    CEO Stuart Brazier said the launch reflects Al Fakher’s push to modernize its portfolio as hookah use expands in Western markets. The company plans a broader international rollout of Crown Switch in the coming months and anticipates accelerating new product development into 2026.

  • AIR Taking its Shisha Public on Nasdaq in 2026

    AIR Taking its Shisha Public on Nasdaq in 2026

    Shisha and inhalation technology company Advanced Inhalation Rituals (AIR) announced an agreement with Cantor Equity Partners to become publicly listed on the U.S. Nasdaq stock exchange under the ticker “AIIR” in the first half of 2026. Founded in the UAE, AIR owns Al Fakher, “the world’s largest shisha brand by sales volume, holding over 60% of the U.S. market.” In 2023, the company launched OOKA, “the world’s first pod-based, charcoal-free electronic shisha device, aimed at modernizing traditional shisha use.”

    AIR reported $375 million in net revenue and $150 million in adjusted EBITDA for 2024, underscoring strong financial performance. The company said its planned U.S. listing will enhance global visibility, attract international capital, and reinforce Dubai’s position as a hub for innovation.

  • AIR Unveils First Sustainability Report and Roadmap

    AIR Unveils First Sustainability Report and Roadmap

    Advanced Inhalation Rituals (AIR) published its inaugural sustainability report, detailing a long-term strategy focused on public health, innovation, and environmental and social responsibility. The report positions AIR as a pioneer in tobacco- and nicotine-free shisha alternatives, highlighting major milestones such as the launch of Zodiac, a tea-based inhalation product, and OOKA, what the company says is the “world’s first pod-based, charcoal-free shisha device,” with over 14,500 devices and 500,000 pods sold to date.

    AIR’s new 2030 Roadmap, aligned with the UN Sustainable Development Goals, centers on five ESG (environmental, social, and governance) pillars: public health and innovation, working conditions, business integrity, environmental impact (notably water usage), and governance. The roadmap includes goals like improving gender diversity in leadership, strengthening supply chain standards, and increasing public education around harm reduction.

    “This report celebrates the huge progress we have already made in optimizing all aspects of our operations, but we are also aware that we have a responsibility to accelerate our ESG efforts over the coming years to protect the world around us,” AIR CEO Stuart Brazier said. “As the global leader in our industry, our purpose is to transform the sector by creating a safer, cleaner, and more sustainable inhalation experience whilst also preserving the rich social and cultural value of shisha.”

    The full report is available at www.air.global.

  • Kingsway in Talks Over AIR Stake Sale

    Kingsway in Talks Over AIR Stake Sale

    Image: Tobacco Reporter archive

    Kingsway Capital has begun meetings with big tobacco firms as the company prepares to sell its stake in Dubai-based tobacco business Advanced Inhalation Rituals (AIR), reports Reuters.

    Kingsway is the majority owner of AIR, and the company has held talks with potential investors, including BAT and Japan Tobacco, as part of a dual-track process where a seller pursues a sale and an initial public offering at the same time. 

    Al Fakher, which manufactures flavored molasses for shisha pipes, is AIR’s most valuable business. An investment in AIR would provide access to the shisha and e-shisha market in the Middle East and elsewhere.