Capital of Yemenia Airways to rise
The Yemeni government has approved a draft law to increase the capital of Yemenia Airways Company to YR 14.7 billion. The cabinet agreed in its weekly meeting on Tuesday to continue partnership with Saudi Arabia to lead the airways. Saudi Arabia will continue to hold 49% of Yemenia while Yemen will have 51%.
Yemenia was established in July 1978. Since then, a joint Yemeni-Saudi Board of Directors supervises all of its activities.