Quote: Bahrain is seeking to own 100 per cent of Gulf Air, a carrier it currently jointly owns with Oman, the company's vice-chairman said yesterday.
Mahmoud Al Kooheji confirmed comments made by Crown Prince Shaikh Salman Bin Hamad Al Khalifa in the Bahraini press that Bahrain is aiming to own the whole firm, after last month saying the kingdom would initially raise its stake to 80 per cent.
Bahrain and Oman each own half of Gulf Air, which is based in Bahrain.
"We have reached an understanding between us and Oman for 80 per cent ownership by Bahrain, 20 by Oman ... Of course the prince's comments are true," Kooheji said.
He declined to give a timeline or cost of the stake increase. In March, he said Bahrain would increase its stake to 80 per cent through a cash injection of up to 500 million dinars ($1.33 billion), and that this would happen soon.
Looks like GF will soon become a single hub carrier operating out of BAH.
Quote: Muscat: Bahrain raising its stake in Gulf Air to 80 per cent was a one-sided announcement from Manama and Oman knew nothing about it, said a top executive of Oman Air yesterday, while announcing the airline's ambitious plans to expand further.
"It was a one sided announcement and nobody knows about it in Oman," Ziad Bin Karemi Al Haremi, Oman Air CEO, said at a press conference held yesterday.
QatarA340 From Qatar, joined May 2006, 1962 posts, RR: 6
Reply 3, posted (8 years 4 months 4 days 12 hours ago) and read 2710 times:
Quoting BigTom (Reply 1): Oman unaware of Bahrain's Gulf Air move
I cant say this news is surprising--but the move is inevitable. Oman was NOT totally unaware of the move, but maybe it was a bit surprised by the timing of it. After all, its a matter of time before Oman pulled out. Oman mentioned it, Bahrain mentioned it. So, what's new?
Now with Oman Air ordering wide-bodies, all the more reason to belive that Bahrain will be the sole owner of GF.
CV580Freak From Bahrain, joined Jul 2005, 1035 posts, RR: 0
Reply 5, posted (8 years 4 months 4 days 5 hours ago) and read 2495 times:
This is the best thing that could happen to GF, retrench back to a single hub in Bahrain and now the new CEO has started this month hopefully with him at the helm and the Bahraini royal family backing GF we'll see an imprvement.
One day you are the pigeon, the next the statue ...