BD664M FOR GULF AIR?
MANAMA: Bahrain's National Assembly has been urged to sanction a BD664.3 million payment to help ensure the survival of national carrier Gulf Air.
The funding should be taken from this year's national budget, said Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa and Transportation Minister Kamal Ahmed yesterday.
The call was made during a meeting between parliament and Shura Council members to discuss the challenges facing Gulf Air and its technical, administrative and financial status. The Cabinet ministers said legislators must move fast to ensure the airline survives and is able to overcome the massive losses that have dogged it for several years.
The government is discussing four options, including dissolving the airline, selling it off and launching a new carrier, downsizing or allowing it to continue in its current form.
The ministers said an accumulation of local, regional and international factors had affected the airline's performance and pledged to co-operate with parliament and come up with the best strategy for the company and Bahrain's economy. They also highlighted the airline's role in connecting Bahrain with the world and employment opportunities it offers the national workforce.
Gulf Air, meanwhile, dismissed reports that its chief executive Samer Majali had resigned. It said in a statement that he was still leading the airline and any comments to the contrary were untrue.