Quote: Bahrain is to buy Gulf Air, then privatise it, the government revealed yesterday.
It will initially buy 80 per cent of the airline, with the rest remaining with co-owner Oman, Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa told the Shura Council.
But the long-term aim is for Bahrain to buy the airline in its entirety, then privatise it, said Shaikh Ahmed.
"We are currently working to get an 80pc share of the company, with the possibility of owning it all, through our national holding company (Mumtalakat), so we can take proper decisions to implement our comprehensive strategic plans," he said.
"Whenever they are achieved, we will work to privatise the company as soon as possible, in line with our plans for economically-worthy sectors."
Shaikh Ahmed said Bahrain would be Gulf Air's main operations centre, serving the financial and commercial sector through increased flights to neighbouring countries.
"We have already assigned international consultancy firms to come forward with incisive plans to improve Gulf Air's status," he said.
BigTom From United Arab Emirates, joined Dec 2006, 595 posts, RR: 3 Reply 4, posted (6 years 7 months 2 weeks 3 days 15 hours ago) and read 3064 times:
Hope GF can pull out of troubled waters, as they are an important part of the Gulf's aviation history. But eventually I feel that both GF and Oman will turn into good medium-sized regional carriers, unlike EK, QR or even EY who will dominate the stage.
EurostarVA From Bahrain, joined May 2002, 1296 posts, RR: 8 Reply 5, posted (6 years 7 months 2 weeks 3 days 13 hours ago) and read 2900 times:
Just like Bahrain as a whole, I see Gulf Air growing into a small-to-medium sized "robust", mean and lean airline turning handsome profits to its owners. Initially 10 aircraft, 15 destinations, and a one impressive on time performance.
To do this, a newly-privatized Gulf Air needs serious investors. My own vision is a Bahraini (Kanoo, etc.) -Saudi (Saad, Turki or the like) consortium buying upto 90% of the airline with the Bahrani Govt. keeping a symbolic 10%. The old guard, unproductive staff, and corrupt elements will naturally be shown the door as the new owners will surely try to milk every penny out of the operation. A good staff-to-aircraft ratio is 1:75, and more internal processes can be outsourced to Bahraini-based firms to help and contribute to the booming local economy.
Jr From United States of America, joined May 1999, 965 posts, RR: 6 Reply 7, posted (6 years 7 months 2 weeks 3 days 12 hours ago) and read 2828 times:
I hope this work. I think one of the main reasons GF has been such a joke is its lack of focus on one true hub. Splitting operations at Bahrain, Muscat, and Abu Dhabi is such a joke when every other flight is a one-stopper instead of non-stop. GF could have been the number 1 airline in the region by a big margin instead of where they are now had they optimized BAH and fed traffic through there instead of the lackluster split ops they have right now.
EurostarVA From Bahrain, joined May 2002, 1296 posts, RR: 8 Reply 8, posted (6 years 7 months 2 weeks 3 days 12 hours ago) and read 2776 times:
Quoting Jr (Reply 7): GF could have been the number 1 airline in the region by a big margin instead of where they are now had they optimized BAH and fed traffic through there instead of the lackluster split ops they have right now.
Right on. GF is acting in a reactionary manner since the mid 90s. It's time to move on now and embrace a single hub-and-spoke system.