The airline business isn't connected with the TV station carrying the same name. Apparently in Arabic Al Jazeera means The Island or The (Arabian) Peninsula. Al-Jazeera Airways was founded in May 2004 as a shareholding company with a capital of 10 million dinars (34 million USD), 30 percent of which is owned by a group of core founders (Boodai Group); the rest was offered to the public, with record response. The airline plans to provide low-cost regional flights - 55% cheaper than Kuwait Airways.