Qatar-based company leads airline joint venture in Bahrain

Bahrain's second charter airline company was officially launched on Sunday with company officials sighting that they could take to the skies as early as April.
Rizon Jet, which was set up with an authorised capital of 30 million dollars and a paid-up capital of 10 million dollars, also plans to raise an additional 100 million dollars in the next two weeks to finance increasing its fleet size, officials said.
The total value of the initial aircraft will be 52 million dollars.
The airline aims to attract frequently-flying, high-profile, businessmen and company executives to meet the increasing demand for corporate aircraft charter within the Middle East, with a particular focus on the Gulf.
Rizon Jet aims to expand by November with operations for the Indian subcontinent and southern Europe with the arrival of longer-range airplanes.
The company also plans at a later stage to build a 6 million US dollar maintenance center to service private jets from the Gulf, the Middle East and North Africa (MENA), and the Indian subcontinent.
25/03/07 Mazen Mahdi/DPA/Playfuls.com

To Read the News in full at Source, Click the Headline

Categories: Foreign Mar 2007, New Mar 2007