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FINANCIAL NEWS
RAK Airways to relaunch in October
26 Sep 2010
(MENAFN) RAK Airways, the state-backed carrier of Ras Al Khaimah, on Sunday said it would resume services after a 12-month lull with two routes to Jeddah and Calicut, India, Gulf News reported.
The carrier, which claims paid-up share capital of $155 million, said it will operate four weekly flights on each route in a bid to capitalise on traffic from pilgrims and migrant workers.
The airline suspended operations a year ago in the wake of the global financial downturn, which caused billions of dollars in losses to airlines.
The airline will operate a single 737-400 aircraft at the launch, it said.
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