Awali and Afaq meet with Sheikh Mohammed Al Khalifa

Al Khalifa welcomed the establishment of Afaq as a joint venture between Awali and its strategic partners, which will operate in the private and business aviation sector in Bahrain, having recently been approved by Bahrain Civil Aviation Affairs.

Al Khalifa presented the mission and strategic directions of Bahrain's Economic Development Board and its approach to attract members of the GCC private sector to invest in Bahrain, saying:

"We are keen to support the private and business aviation sector and to overcome the various obstacles faced by this sector. We offer our unwavering support to all GCC investors, and to Saudi investors in particular, whom we hope will make up the majority of the investor community in the Kingdom of Bahrain."

Sheikh Mohammed briefed his guests on the expansion plans for Bahrain International Airport and the intention to break ground on the Private Aviation Terminal project, scheduled for commencement soon after completion of the required engineering studies. He invited the founders of Afaq to invest in this project, suggesting that an immediate meeting be held between the Afaq representatives and the party in charge of constructing the new private terminal.

Mr. Ehsan Abduljawad, Chairman of Afaq, said, "We would like to express our thanks and appreciation to H.E. Sheikh Mohammed bin Essa Al Khalifa for meeting with us, and for inviting us to invest in Bahrain's Private Terminal Project. We are immensely proud to be honoured in this manner, and of the trust placed in our capabilities."

"Afaq seeks to offer professional services to fulfill the growing demand among elite corporate and individual clients, VIPs and businessmen for top level aviation services. Our operations will cover the GCC and other Middle Eastern countries, with special focus on the largest companies in these markets," he said.

Mr. Ehsan said that an investment in the private and business aviation sector promises to be fruitful and that Afaq has all the abilities to be one of the most successful among the private aviation firms competing in the market, offering services in line with the increasing demand for business and private aviation services, whose growth percentage for 2007 was estimated at 47%.

Afaq seeks to create a highly diversified portfolio of aviation services for personal, business and corporate customers. The company's list of services includes flight charter, emergency medical evacuation, flight management, aircraft ownership, ground support and maintenance. The company intends to offer services of the highest quality at highly competitive rates, with a fleet of aircraft of varying sizes. The firm will commission a technical partner for the management of technical matters and to undertake operations in coordination with regional airport authorities and maintenance service providers.