RIYADH, 23 August 2004 — MenaJet, an airline jointly promoted by Saudi Arabi’s Al-Zamil Group and Bahrain’s Gulf Finance House (GFH), has taken to the skies, heralding a new era in regional aviation.
The maiden flight took off from Beirut to Dalaman on Turkey’s Mediterranean coast. The frequency of flights to other destinations in the Arab world and elsewhere is currently being finalized.
“MenaJet, which will initially focus on flying to high-density destinations in the region, will gradually expand its routes to cover other destinations across the Arab world and elsewhere depending on the viability of our operation,” said CEO Capt. Riad Mohammed Mikaoui.
Mikaoui said Airbus A320 aircraft were chosen for the new airline’s short to medium haul operations.
The private aviation sector in Saudi Arabia, the largest in the Middle East, is expected to bring SR7.5 billion in investment in the next two years keeping in view the progressive growth of aviation business.
It represents 60 percent of the sector in the Arab Gulf region.
A few other initiatives to launch new airlines owned by individuals or consortiums are being discussed following the Saudi Cabinet’s announcement this year that the Presidency of Civil Aviation (PCA) will become an independent commission that will conduct its affairs on a commercial basis. This is the latest step in the government’s privatization program that will bring more efficiency and investment into the Saudi economy.
