UAE's Air Arabia buys 49 pct of Jordan's Petra Airlines

Air Arabia served over 1.6 million passengers in the quarter, an increase of 8 percent year-on-year. (Shutterstock)

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.

 

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Last Update: Wednesday, 20 May 2020 KSA 09:43 - GMT 06:43
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