Al-Jazeera Airways, the country's first low-cost carrier, is set to start operations by the first quarter of 2005. The airline, which is owned by the local Boodai Group, has been in talks with The Boeing Companyof the US and European consortium Airbusto purchase an initial fleet of four aircraft.
'Al-Jazeera will launch by the end of the year or very early 2005,' Osameh Nijem, head of investment projects division, construction department, at the Directorate-General of Civil Aviation, said on the sidelines of MEED's 2nd Middle East Airports conference on 29 November in Bahrain. 'It is looking to operate A320s and fly within a two-hour radius.' Shares in the airline's initial public offering were more than 12 times oversubscribed when the project was launched earlier this year. Al-Jazeera offered KD 7 million ($23.6 million) of its KD 10 million ($33.9 million) capital, raising subscriptions of KD 84 million ($285 million). www.meed.com/transport
You might also like...
Hassan Allam and Siemens confirm Hafeet Rail award
24 April 2024
UAE builds its downstream and chemical sectors
24 April 2024
Acwa Power eyes selective asset sales
24 April 2024
Bahrain mall to install solar carport
24 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
