With its official incorportation yesterday Air Dominicana is now closer to becoming a reality. The new airline is expected to be up and running in April 2008 and will operate out of Punta Cana with offices in Santo Domingo.
It was incorporated with initial capital of US$10 million. Of this, the Dominican state has a 40% share, Spanish capital input was 32% and President of Globalia, Juan Jose (Pepe) Hidalgo will have a personal stake of 25%. He will also be Air Dominicana's new president. According to Tourism Minister Felix Jiménez the Dominican state's share will eventually be reduced to 25-30%.
