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Article: Gulf Air's fate hangs in the balance: aviation consultant recommends radical restructuring. (Transport).(Brief Article)(Statistical Data Included)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- May 10, 2002
CopyrightCOPYRIGHT 2002 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The future of regional carrier Gulf Air remains uncertain as its four shareholders mull over a request from the airline's man agement for a fresh capital injection.
The governments of Qatar and Oman have been reported as being reluctant to participate in the proposed $272.5 million rescue package. A third shareholder in the airline -- Abu Dhabi -- is expected to be cautiously supportive of the company. Bahrain -- the fourth shareholder -- has shown full commitment to Gulf Air and is understood to have tabled an offer to meet any funding shortfall.
The reluctance of Doha and Muscat to participate in the deal has not come as a surprise. Both countries ...