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Flydubai’s capital doubled

altJune 9 - Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Monday issued a law that will effectively increase the emirate’s first budget airline’s capital by more than double. "The new law amended a preceding law, which had set up Flydubai with a capital of Dh220 million. The amendment more than doubled the capital to Dh500 million to be fully paid by the Government of Dubai," said a statement issued here on Tuesday.
Flydubai started operations a year ago. Last week, the carrier said it carried more than 750,000 passengers during its first year of operation. "We will ensure Flydubai continues to expand in line with our stated objectives and we will do our best to ensure the success of our first year continues," said the airline’s Chief Executive Officer Ghaith Al Ghaith.
 

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