For what it's worth,
DU7532, it is just a rumor. I doubt you will hear much in the news in the way of press releases since it is not a publically-traded company and I am not sure where they get all of their financing from. However, Bahrain Air does have a lot of airplanes sitting around on remote ramps in Bahrain (poor utilization rate), which generally speaking is a bad practice in the airline business (they are not creating revenue and still costing big $$$) and I understand that loads are not impressive; higher load factors are generally essential for low-fare airlines. Here is a recent thread about them:
http://www.pprune.org/middle-east/39...hrain-air.html
Remember though, these are all rumors and I could be entirely wrong with my observations.