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New legislation more than doubles capital for flydubai
Dubai government provides infusion of AED 280 million, more than doubling airline’s capital limit.
June 8, 2010 9:46 by Rasha Reslan
Flydubai airline is poised to receive a government sponsored capital infusion of AED 280 million, Sheikh Maktoum announced yesterday, according to the Gulf News.
The full amount of the capital increase will be paid by the Dubai government, local media reported Monday. The infusion will be used for airline expansion, according to the company’s chief exec.
Flydubai is the budget airline of Dubai and the country’s first low cost carrier.