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Jordan’s Fly Aqaba lands Saudi investor
19.10.2021 – 07:28 UTC
The Aqaba Particular Financial Zone Authority (ASEZA) has ultimately discovered a taker for its Fly Aqaba (Aqaba) challenge after Saudi traders agreed to assist fund the start-up.
An ASEZA assertion stated it has a 20% stake in Fly Aqaba which has a registered capital of JOD1 million dinars (USD1.41 million) and a working capital of USD20 million. Saudi nationwide Nasser Al-Olayani, who was additionally chairman of Malaysia’s flyGlobal Constitution (FGG, Kuala Lumpur Int’l), has been appointed Fly Aqaba’s board chairman. It’s unsure who the opposite Jordanian shareholders within the start-up are given Jordanian legislation requires at the least 51% of an airline’s shares to be within the fingers of Jordanian nationals and/or entities who should additionally train efficient management over the airline.
ASEZA board chairman Nayef Bakheet stated that when the required permits have been obtained from the Jordan Civil Aviation Regulatory Fee (JCARC), Fly Aqaba, in its preliminary section, will concentrate on connecting its Aqaba base with European in addition to Gulf and different Arab nations. Two unspecified plane will likely be…
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