Mohammed bin Rashid issues law doubling the capital of 'flydubai'

Dubai, June 8, 2010 (WAM)- Vice President and Prime Minister of UAE and Ruler of Dubai H.H. Sheikh Mohammed bin Rashid Al Maktoum has issued a law raising the capital of 'Flydubai' to Dh500million. Law No.13/ Year 2010 amended a preceding law (No.11/Year 2008) which had set up flydubai with a capital of AED 220. The amendment more than doubled the capital to Dh500 million to be fully paid by the government of Dubai. The law took effect from the date of issue and will be published in the Official Gazette. The one year old low cost airline of the emirate had started commercial operations in June last year. – Emirates News Agency, WAM