The story
Al Wafeer Air was founded by Adnan Dabbagh, former Executive Vice-President of Operations of Saudia. The major stakeholders in the carrier were Saudia which held a (40%) stake in the carrier, with Bin Laden Group, the Naghi Group and Al Tayyar Travel Group holding (12.75%).
They had operated one Airbus A310-300 leased from White Airways and three Boeing 747-400 leased from Malaysia Airlines.
From Wikipedia’s article on Al Wafeer Air, shared under CC BY-SA 4.0.3