Bahrain to set up new airline

A new airlines Gulf Express, to be based in Manama, will be established next year, to service Charjah, Iran and eastern Saudi Arabia, the Gulf News Agency reported Tuesday.

GNA quoted a Bahraini daily as saying that preparations for the establishment of the company, began last month in Bahrain.

The company's worth is estimated between $10 and 15 million with Bahrain shareholders holders owning the largest stake in the capital.