RAK AIRWAYS is the name of a new Gulf area airline, the UAE's fourth
national carrier, and based in Ras Al Khaimah. The airline is funded
by an initial capital of $231.5m through a private placement, with the
government retaining a controlling stake. It plans to be a niche
airline flying to GCC countries, Lebanon, India, Bangladesh,
Philippines, Sri Lanka, Pakistan, Iran and Egypt. Launch target date
is set for early 2007. Chief operating officer is Jack Romera, well
known in the UK industry and a Cranfield University MA who was much
involved with the start-up with what has now emerged as BMED.
http://rakairways.com