RIYADH: Jordan’s Aqaba Special Economic Zone Authority signed an investment agreement to establish a privately-owned Saudi-Jordanian airline with a capital of $20 million, Jordan’s PETRA news agency reported on Sunday.
This huge investment project was the result of joint cooperation between the two countries, Jordan and Saudi Arabia.
“The new airline will operate flights to the capital, Amman, and to European, Arab and Gulf countries under the name Fly Aqaba,” said Nayef Bakheet, chairman of the authority’s board of commissioners.
Fly Aqaba will operate two planes in the first phase, Bakheet added.
The airline will have its headquarters in the city of Aqaba.
“The agreement supports tourism to Aqaba by linking it with the countries of the world at competitive prices,” said Fadi Abu Arish, executive general manager of the aviation company.
Sharhabeel Madi, commissioner for tourism and investments at the Aqaba authority, said this Saudi investment in Jordan is evidence of the country’s “distinguished” investment environment that offers several incentives.
Nasser Aliani, general manager of Fly Aqaba, said the investment project was the result of cooperation between Saudi Arabia and Jordan to serve the interests of both people and support the Jordanian economy.
The COVID-19 pandemic has badly dented Jordan’s tourism industry, which represented 14 percent of its gross domestic product.