The story
First news about a new airline based in Ras Al Khaimah emerged in 2005 and it was initially called Al Hamra Airlines. UAE Cabinet has later issued its official approval for setting up the RAK Airways as a national carrier in its decision No. 328/4 for 2005. The new airways launched operations in early 2007. The carrier was affected by the 2008 financial crisis and ceased operations in 2009.
In 2010 the airline announced that it would be resuming operations with a New "value-for-money" business model, aiming to position itself between full-service and low-cost carriers.
In February 2011, it was revealed that RAK Airways was planning on launching flights to between five and nine new destinations. Though it acknowledged the difficulty of securing slots at several of the destinations due to rival carriers in the UAE, it announced that it was finalizing a codeshare agreement with an Asian carrier and that it would also be increasing the size of its fleet.
In 2013, RAK Airways launched flights to Islamabad, Pakistan; and Amman, Jordan.
RAK Airways announced the immediate suspension of all operations on 1 January 2014, citing economic considerations.
From Wikipedia’s article on RAK Airways, shared under CC BY-SA 4.0.4