Air Arabia: has $50m capital

Air Arabia, the Middle East's largest low-cost carrier, said on Sunday its Nepali joint venture, Yeti Airlines International, has a capital of $50 million (Dh184m).

The first flight of Yeti Airlines, also known as, landed in Sharjah airport in the United Arab Emirates on Sunday.

"We hold a majority stake in the company and have a management contract," Air Arabia's Chief Executive Adel Ali told Reuters, declining to be more specific.

Air Arabia's partner is Yeti Airlines of Nepal. (Reuters)

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