DUBAI, 15 February 2006 — The government of the emirate of Ras Al-Khaimah has announced the creation of RAK Airways, which will start operations by the year-end.
The move signals yet another turning point for Ras Al-Khaimah, which, under its dynamic Crown Prince and Deputy Ruler Sheikh Saud ibn Saqr Al-Qassimi, is fast expanding and building modern infrastructure and facilities to attract foreign and local investors.
RAK Airways will be the UAE’s fourth airline. The others are Emirates of Dubai, Al Itihad of Abu Dhabi, and low-cost carrier Air Arabia of Sharjah. RAK Airways will the first joint stock airline company of the UAE.
The official media reported that Ruler of Ras Al-Khaimah Sheikh Saqr ibn Mohammed Al-Qassimi issued a decree approving the creation of RAK Airways. The decree came after the federal government of the UAE approved the formation of th carrier.
The company will be based at the RAK Free Zone with an authorized capital of 1.5 billion dirhams, Chairman of RAK Civil Aviation and Vice-Chairman of the company Sheikh Salem ibn Sultan Al-Qassimi announced.
