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FINANCIAL NEWS
Jordan’s Petra Airlines to increase capital to USD70m
30 Nov 2012
(MENAFN) Petra Airlines’ CEO, Riad Khashman, stated that the Jordanian carrier plans to raise its capital to USD70 million to expand the business and the offered services, reported Arabian Business.
Khashman said that the airline also plans to ink a partnership agreement with a major European low-cost carrier in order to enhance its route network.
The move would allow the company, which was established in 2005, to operate flights from its base in Amman.
He added that Petra Airlines was in talks to contract one of the international aviation consultants to develop a comprehensive business plan and ultimately attracting a potential strategic partner in the LCC (low-cost carrier) segment, especially a European low-cost carrier.
The partnership would permit the carrier to provide services to Europe, MENA and GCC under Jordan open sky policy.
Petra Airlines, which owns 2 Airbus A320 aircraft, with a third scheduled to be added in early 2013, has been offering low-cost charter flights from Amman. It has previously operated charter flights to Armenia, Egypt, Italy, Saudi and Turkey.
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