Gulf to have second low-cost airline

MANAMA - Minajet, Gulf's second low-cost airlines carrier after Arabian Airlines is set to commence operations from April.

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Published: Tue 24 Feb 2004, 11:42 AM

Last updated: Wed 1 Apr 2015, 11:55 PM

Fouad Al Omar, president of the board of directors of the Gulf Finance House (GFH), told Al Sharq Al Awsat that the GFH will be asking Gulf investors to provide capital for Minajet next month.

Though the initial expenses are now covered by GHF, he said, and no decision has been made on the amount of money that is to be invested. Al Omar said: "The company, which will be based in Sharjah, is going to be funded by investors from the Gulf along with a strategic investor. Establishing a second base in Bahrain will be considered later."

According to Al Omar, the company will use A320s and will offer flights to Oman, Bahrain, Beirut as well as Sharjah, to begin with. In the next six months, two more destinations will be offered, one in the Middle East and the other to the Indian subcontinet. Two aircraft have been leased by the company so far, but this is expected to increase. Al Omar didn't expect Minajet to compete with the existing airlines. He projected that 70 per cent of Minajet passengers will be first time airline users. Minajet is the second low-cost airlines established in the Gulf after 'Arabian Airlines'. Gulf investors are planning more. Recently, a group of investors from the Gulf joined with an international investor to establish 'Trans-Gulf Express'.

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