International Finance
Aviation Featured

Jordan to get a new Aqaba-based private sector-owned airline

Jordan new airline-IFM-image
The Aqaba Special Economic Zone Authority and Fly Aqaba Company signed a $20 mn agreement

Jordan is set to get a new carrier based in Aqaba as the Aqaba Special Economic Zone Authority (ASEZA) and Fly Aqaba Company recently signed a Saudi-Jordanian $20 million investment agreement. The new carrier will be called Fly Aqaba, as per media reports.

According to ASEZA President Nayef Bakhit, the carrier will operate flights to Amman, Europe, Gulf and other Arab countries. He further added that the new carrier will operate from the King Hussein International Airport to its local, regional and international destinations.

The investment is expected to boost the tourism industry in Jordan and especially in Aqaba as the new carrier would connect the region with the world through competitive-priced airlines.

Bakhit added that the goal is to facilitate tourist access to the “Golden Triangle” of Jordan which consists of the popular destinations of Aqaba, Petra, and Wadi Rum.

It was reported that Fly Aqaba was not a recent development and the project was in the pipeline for almost three years. Currently, the carrier is waiting for licences from the Civil Aviation Regulatory Commission.

Recently, it was also reported that Israel-based flag carrier El Al is in the process of acquiring Arkia, another Israeli carrier. Even though not much is known at this moment, the deal, if goes through, would see the biggest carrier in Israel and acquire the second-biggest carrier.

However, according to local media reports, El Al is in the preliminary stages of this acquisition and emphasizes that there is no guarantee that this deal will go through.

What's New

M-Money: The payment gateway for financial inclusion


The ‘Tijara’ route of empowering Bahraini SMEs


Business Leader of the Week: Meet Jim Ratcliffe, British billionaire & part-owner of Manchester United

IFM Correspondent

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.