RAK Airways to resume operations from 10-Oct-2010
RAK Airways confirmed plans to resume services from 10-Oct-2010 with the carrier to initially offer scheduled services to Jeddah and Calicut (Bloomberg/Arab News/Reuters, 26-Sep-2010). The airline is leasing two B737-400s but added that it would consider purchasing four B737-800 aircraft after a year of operations. RAK Airways launched operations early 2007, but suspended scheduled services in May-2009 due to the global financial crisis. RAK Airways plans to launch services to at least five destinations within a year, with destinations in the GCC, Levant, Indian Subcontinent and CIS under consideration. Fares will be priced from AED10 (USD2.70), although the carrier stated it is not an LCC. RAK Airways stated has no plans for an IPO, with no change in the company's ownership which predominantly consists of private shareholders. The carrier, which will be the UAE's fifth airline, stated it hopes to reach break even in the first year.RAK Airways: “Conditions have markedly improved lately to the point where international passenger demand has soared. The time is right for us to make a spectacular re-entry into the market,” Sheikh Omar Bin Saqr Al Qassimi, Chairman. Source: Bloomberg, 26-Sep-2010.