Air Arabia has bought a 49 percent stake in Jordan's Petra Airlines, the United Arab Emirates-based carrier said on Monday.
Petra Airlines will be rebranded as Air Arabia Jordan and the UAE carrier will establish a hub at Amman's Queen Alia International Airport, with operations to commence under the new name in the first quarter, according to a statement to Dubai's bourse.
Petra Airlines' main shareholder, RUM Group, will maintain a 51 per cent stake in the airline.
Last Update: Wednesday, 20 May 2020 KSA 09:43 - GMT 06:43
