Bahrain to own 80% of Gulf Air
This is the way to go as far as Bahrain's concerns and GF's in particular's. In many cases, sharing is great when the Company's interests are seeing on their practical and effective results only based on the economics and staying from politics. Oman will eventually realise this is the way to go. They will expand their national airline and they may still choose to keep their share within GF as a matter of business interest.
GF deserve to keep their name if the the Bahraini government so wishes and still be a player in the regional aviation if they do not venture as the other ones do making Bahrain a more attractive tourist destination with "through" traffic from everywhere and vice-versa.