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RAK Airways (Ras Al Khaimah) was rumored to be going out of business after Sheikh Saud bin Saqr al-Qasimi said the new flag carrier “was no longer in service”. RAK Airways, which commenced scheduled services on November 29, 2007 with leased Boeing 757-200s, had recently ended scheduled services in late 2008. Today the company continues as a charter airline operating sub-service flights for Hewa Bora Airways. However the new CEO (Kristian Kirchheiner) who joined the team on May 18, is “exploring all opportunities”.

From Arabian Business:

www.arabianbusiness.com/557255-rak-airways-in-no-way-closing—new-ceo