Swicorp buys stake in Jordan Aviation

10 September 2008

Saudi-based investment firm Swicorp has purchased a strategic stake in Jordan Aviation (JATE), an aviation-leasing company, for an undisclosed sum. The purchase was made through Intaj Capital, Swicorp's $250m private equity vehicle. JATE is the first privately owned airline awarded a Jordanian Air Operating Certificate and is one of the youngest airlines to have completed the IATA Operational Safety Audit in 2006, according to a press release.

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