Fly Aqaba to register 20% of capital to Aqaba Development Corporation

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Fly Aqaba airlines will assign 20 percent of capital to Aqaba Development Corporation. (Photo: Jordan News)
AMMAN — Fly Aqaba airlines’ CEO Fadi Abu Arish has confirmed that the partners and managers of the airlines have decided to register 20 percent of the company’s capital, without any material payment to be owned by the Aqaba Development Corporation (ADC).اضافة اعلان

Abu Arish stated that the aim is to contribute to the development of local communities, to promote private sector participation in development, to stimulate the economy, and to increase growth and development in the Aqaba Special Economic Zone Authority (ASEZA), which in return will benefit the country in general.

This aligns with the Royal vision for a better future for Jordan by encouraging investment and development of the economy by supporting the city of Aqaba, which would expand tourism in the Kingdom and place Aqaba as an active southern gate to it. 

Abu Arish pointed out that Fly Aqaba will finance the shares that will be agreed upon as a national contribution and an implementation of the Royal vision from Fly Aqaba Community Development Corporation.

On Monday, the chairman of the board of commissioners of the ASEZA, Nayef Bakhit, announced the signing of an agreement to establish Fly Aqaba Airlines with a Saudi-Jordanian partnership and a capital of a registered JD1 million and an active $20 million.

President of ASEZA, Nayef Bakhit, and general manager of Fly Aqaba, Nasser Aliani, signed the agreement, in the presence of the chairman of the board of directors of the company, Nidal Nuaimi, Vice-chairman of the board of commissioners, Sharhabeel Madi and the CEO of Fly Aqaba airlines, Fadi Abu Arish.

Post-signing, Bakhit confirmed that Fly Aqaba is the first investment in the private tourism zone with a capital of $20 million. He noted that the company would operate two aircrafts, linking Aqaba with Arab and foreign cities during the first phase.

This would boost Aqaba as a choice for tourist gateways, thus contributing to the revival of the region’s economic and tourism activity.

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