Ammon News - The Aqaba Special Economic Zone Authority (ASEZA) on Sunday signed an agreement for a joint Saudi-Jordanian investment to establish Fly Aqaba, a privately owned $20 million airline company to be headquartered in the city of Aqaba, Jordan News Agency Petra reported.

In addition to an Amman route, ASEZA Chief Commissioner Nayef Bakheet said that the company will operate flights to European, Arab and Gulf countries under the name Fly Aqaba. He revealed that the company had officially registered with ASEZA as the first commercial aviation investment with a JD1 million declared capital and a $20-million working capital.

Bakheet explained that the company will start its flights from the King Hussein International Airport, hoping that this investment will spur foreign tourism to Aqaba by linking it with global destinations at competitive prices, according to Petra.

He stressed that Fly Aqaba Company will operate two planes as a first stage to facilitate the arrival of tourists to Jordan in general and the Golden Triangle area in particular, in addition to operating tourist flights to and from Aqaba.

In turn, Chairman of the Board of Directors of Fly Aqaba Nasser Al-Olayani said that this "huge" investment project was the result of joint cooperation between Saudi Arabia and Jordan, for the benefit of the two brotherly peoples and in support of the Jordanian economy.