Sunday, 18 January 2015

Air Arabia Buys 49 percent in Petra Airlines, Makes Amman an International Hub

If Etihad and Emirates have been on expansion spree with a number of partnerships and agreements with global airlines, Sharjah based Air Arabia is not sitting idle as well. It has recently acquired stake in Jordan’s Petra Airlines. The acquisition is a strategic move which would allow Air Arabia to make Amman its 5th international hub. Petra Airline will be rechristened as ‘Air Arabia Jordan’.  The new hub of operations will be the Queen Alia airport in Amman from where the flights will reach to a number of destinations in Europe, North Africa and Middle East.

Jordan is a country having a rich historical and cultural heritage and a number of tourists visit there. Air Arabia will be able to not just provide greater reach to the country and beyond for its own passengers but will also help in uplifting the local economy with more job creations. Infusion of capital through the equity route will also help in Air Arabia Jordan achieve its short and long term goals.

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