PPRuNe Forums - View Single Post - Gulf Air: Qatar/Oman refuse new funds & New CEO
Old 3rd May 2002, 15:26
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Icarus
 
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Interesting one this now.
If Oman/Qatar are not going to invest and either Bahrain or Bahrain/Abu Dhabi continue then Oman and Qatar will want ther share holding bought; which is worth one quarter of about -380 Million!
So instead of paying in 25 million or thereabouts, they shall have to cough up almost 95 million to pay their share of the debt in order to leave!
I guess this is (one of the reasons) why GF is in so much trouble; obviously the board cannot see beyond the end of their noses or think much beyond the next few hours!

Anyhow, it's about time these two moved away as they are the biggist culprits to GF's demise.
As for traffic rights etc; so what. Maybe it's about time GF shrank back a little, consolidated and then come back with a vengance; this will be possible through one owner (Bahrain) although the airport will need sorting out if it is to operate as a proper hub. (Raymond take note!! )

Last edited by Icarus; 3rd May 2002 at 15:30.
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