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About Us  |  Contact Us  |  Tracking   |   Weather   |  Feedback  |  SAIF zone  |  Sitemap | Home Press Releases - About Sharjah Airport THE GULF TODAY Tuesday, February 04, 2003 Sharjah to have own airline Sultan issues decree approving Arab Aviation Company SHARJAH: Supreme Council Member and Ruler of Sharjah His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi issued Emiri Decree No.2 for 2003 founding the Arab Aviation Company According to the 10-article decree, the newly-founded company shall be of limited liability and legal entity owned by the Sharjah Civil Aviation Department as first party, and the Sharjah International Airport Authority as the second party. The company's capital, as defined by article (3) of the decree, shall be Dhs10 million apportioned over 10,000 shares at a face value of Dhs1,000 per share with the first party bearing Dhs6 million or 6,000 shares and the second party Dhs4 million or 4,000 shares. All the shares shall be paid fully in cash. The company's objectives, as set out by article (4), are to develop the economy in the field of air transport within the context of the master economic development plan of the state and by launching passenger air transport, mail and cargo inside the country and abroad in a cost-effective and efficient manner. The company shall be headquartered in Sharjah and shall have branch and representation offices in any of the country's emirates and abroad. The decree has granted the company the same air transport rights enjoyed by other national aviation companies as per international rules and agreements ratified by the UAE. The decree shall come into effect from the date of its issue. Back

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