It appears that the license was issued to Gulf Air and Partners...... so who are these partners?
For Gulf Air, i am told it is the Qahtani group. Gulf Air is merely an 'adviser' since the group has money but no experience in the aviation business.
Given the fare structure and capping that is implemented, the venture is sure to be a loss maker unless the can open up international routes fast. The fact that Qatar is also involved could mean that they will have much more resources and probably introduce lower the fares to the international markets and this will get the Gf and Qahtani group out of the market fast as I doubt they can take the losses.