GDN Today:
MANAMA: The Cabinet discussed the current status of Gulf Air and viewed a number of strategic options for the future of the company, presented by Deputy Prime Minister and Bahrain Mumtalakat Holding Company chairman Shaikh Khalid bin Abdulla Al Khalifa. As the government is keen to see the continuity of Gulf Air, the Cabinet decided to restructure the airline, in line with operational requirements and reduce the effective size of its challenges, commitments and costs while maintaining the national workforce.
A Gulf Air spokesman said last night: "Gulf Air's business has faced challenges in recent times in common with other carriers around the world. Combinations of unprecendented regional and economic factors have made business increasingly difficult, in particular the regional political situation, the high price of fuel, low passenger numbers and the suspension of a number of destinations.
"In light of this and further to a statement today by the Cabinet, Gulf Air can confirm that the senior management team, with the support of the government and its shareholder, Mumtalakat, is initiating additional measures aimed at securing Gulf Air's long-term sustainability, as well as actively addressing the airline's loss-making position."