According to Al-KHALEEJ newspaper, Mr. Ghaleb Kabha, an Iraqi businessman and Chairman of the Board of the Basra Bank, announced the launching of the first Iraqi airplane leasing company. The new company, which is called Al-Rafidain Aviation Company, has a ID 6 billion 9$4 million) capital. Half of this capital was put on public offering for subscription by Iraqi investors.
The new company, based in Baghdad, will lease aircraft from Arab and foreign airliners to provide flights from Baghdad and Basra to Damascus, Amman and Abu Dhabi in the first phase.
