Bahrain Government's USD1bn injection improves Gulf Air’s outlook

Gulf Air has joined the ranks of carriers that include China Eastern Airlines, Japan Airlines, Air Nigeria and Air India to have received significant government-backed support this year to assist comprehensive turnaround plans. At the end of Oct-2010, the Bahrain Government - which controls the carrier through state-owned Mumtalakat Holding Company – injected BHD400 million (USD1.06 billion) into the airline. The capital injection more than doubled the carrier’s authorised share capital, taking it to BHD530 million (USD1.41 billion). [1201 words]

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This report contains the following subheadings:

• A decade of red ink
• Reducing staffing levels not easy
• In for the long-haul, but the future is short-haul
• Changing the fleet mix
• Gulf Air fleet & orders
• A difficult assignment

This report contains the following charts and tables:

• Gulf Air net losses (USD millions): 2001 to 2009
• Gulf Air delivery schedule