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Topic: Gulf Air Back In Business - CEO James Hogan
Username: GF-A330
Posted 2002-12-19 14:47:03 and read 2097 times.

New cash for Gulf Air

Gulf Air, the Bahrain-based carrier, is to get another $240m (£150m) in emergency funding from the Middle Eastern countries that own it.
Bahrain, Oman and Abu Dhabi have already injected $81.7m this year to try to stabilise Gulf Air after the state of Qatar abruptly decided to pull out of the company.

At the time, Qatar said it did not believe the company, battered by the sharp slowdown in the aviation business which was exacerbated after September 11, could survive.

The new money is intended to cover the company's deficit, while debt worth $146m will also be frozen till May next year, according to chairman Sheikh Hamdan bin Mubarak al-Nahayan.

"We are back in business," Gulf Air Chief Executive James Hogan said.

Topic: RE: Gulf Air Back In Business - CEO James Hogan
Username: Gulfair
Posted 2002-12-19 15:33:12 and read 2067 times.

Good for Gulf Air. All they need is support from their owners and a little fleet restructuring and they will be back in business, better than ever.

I really think its time Gf phased out their 763's and concentrated on an all airbus fleet. Their a330 aircraft are more popular than ever and with a mixed fleet of a340's, a330's and a320's they will survive.

Perhaps an order for a321's to replace the 763's on regional to medium haul routes will suit their needs better. It would be great to see the Golden falcon flying on an a321!!

Admittably, the a340-300 aircraft do need an interior overhaul and PTV's installed. I flew on a40-LC and A40-ld from LHR to BAH and SIN to MEL in one trip and boy did it get boring after a while.

Cheers,

GF

Topic: RE: Gulf Air Back In Business - CEO James Hogan
Username: GF-A330
Posted 2002-12-20 02:14:58 and read 2000 times.

"Gulf Air"s growth plans for the fleet...include incremental growth of the single-aisle aircraft fleet, with additional units being sourced for 2003, 2004 and 2005, and incremental growth of the wide-bodied aircraft fleet, with additional units being sourced for 2003, 2004 and 2005," the official said. It plans to hold talks with Boeing Co and Airbus in January on a 10-year fleet upgrade plan. - Reuters

Topic: RE: Gulf Air Back In Business - CEO James Hogan
Username: GF-A330
Posted 2002-12-20 02:52:31 and read 1998 times.

The airline also announced at a news conference net losses of 52.2 million Bahraini dinars ($138.5 million) in 2001 and said it expected to lose another 42 million dinars this year.

"We have constructed a 10-year fleet (expansion) plan because of the nature of the manufacturing cycle and the major investment that is required to re-equip an airline," Gulf Air President and Chief Executive James Hogan said.

He said the company was in talks with Boeing, Airbus, Embraer and Bombardier.

"Now that we have the endorsement of the board we can proceed to the next level of discussions in January with manufacturers," added Hogan, without giving details. The airline currently has 30 planes.

Owners Bahrain, Oman and Abu Dhabi emirate in the United Arab Emirates agreed on Wednesday to inject 90 million dinars ($238.7) into the airline over two years.

The three had already agreed in May to pump $81.7 million into the debt-ridden airline after Qatar, another part-owner, pulled out of the company.

"We intend to strengthen our position in the Middle East and the Indian subcontinent to make sure that all key destinations that we may not fly today, we do phase in over the next 12-24 months based on customer demands," Hogan said.

"We will return to key strategic international cities.

We are looking at Sydney, we are looking at Johannesburg and we are looking at Athens," Hogan added.


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