(MENAFN) Air Arabia, the United Arab Emirates-based carrier, announced it has acquired a 49 percent stake in Jordan's Petra Airlines, Arabian Business reported.
The acquisition deal was signed with Petra Airlines' main shareholder, RUM Group, which will maintain a 51 per cent stake in the airline, and will result in Petra Airlines being rebranded as Air Arabia Jordan.
The carrier also said that it plans to establish a hub at Amman's Queen Alia International Airport, with the newly braded carrier expected to start operations during the January-March period of this year.
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