Business & Finance Club - UAE: RAK Airways, the UAE's fourth national carrier, announced today it will re-launch services before the end of this year, following a hiatus of just over 12 months.

Sheikh Omar Bin Saqr Al Qassimi, Chairman of RAK Airways, explained that the exceptionally tough market conditions, created by the global economic turndown during 2008/09 which had forced the young airline to suspend schedule services in May 2009, had now sufficiently abated.

"We are now ready to make a strategic re-entry into the market," he said. "We have a lot of exciting new plans, which will be unveiled soon. Omar Jahameh, our recently appointed CEO and his team are finalising the details of our flights to destinations in the Gulf, Africa and the Indian Sub Continent," he added.