GF to Liquidate???
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Join Date: Mar 2004
Location: The Gulf
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GF to Liquidate???
Any idea about a rumor I heard that the bah gov are planning on reducing GF to its core assets(?), if any, & then cut it up & sell it off to private investors? It seems the the guy in charge has decided its the only way. This all from a few extremely wealthy guys who are in the know. Anyway that's the rumor i heard just across the water.
Join Date: Jul 2007
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Sounds like s*** to me. I really can't see Bahraini ruling family letting GF go down. I think there would be too much face lost. Also with all these mega-projects going on the country most definately needs an airline of some kind-even 1 as screwed as GF.
But then again aviation is a funny thing. Plenty of very solid companies have gone down that were in much much better positions than GF.
But then again aviation is a funny thing. Plenty of very solid companies have gone down that were in much much better positions than GF.
Join Date: Jan 2007
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I've flown with quite a few people in GF now that have told me Bahrain "needs" an airline. Why? I will concede that Bahrain "wants" an airline but needing and wanting are two completely different things. You can travel to anywhere in the world from Bahrain on airlines other than GF. If they were serious about saving face then why would they have let GF be run down to the laughing stock that it has become? This thing about GF being vital to the economy is open to argument as well. The hundreds of millions of dollars that they flush down the toilet to keep GF limping on could possibly be invested in other industries that would be capable of employing Bahranis surely.
Join Date: Mar 2001
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I won't be surprised to see GF sizing down and selling just under 50% to private (selected) investors.
Bahrain has always been a bit (just a bit) ahead of the other in $s and senses for the money they have which is not a lot in comparison with the neighbours here in the Gulf.
Sign of the times. Governments will eventually realise that they cannot continue to waste money in a competitive market. The problem is that GF had its golden share already, EK has reached its peak and now sliding, QR is still on the way up and almost there and EY is just an infant with brand new toys and many more to come.
KU and SV have had their share of problems, typical of the youth and adulthood in the area. WY is an ever growing baby with a great chance now to have their own big toys with certain moderation.
LLCs are a new an successful trend for lower income expats (and others) in the area. However, the higher premium customers, unable to pay for a private jet, will continue to need first and business class operators.
Bahrain has always been a bit (just a bit) ahead of the other in $s and senses for the money they have which is not a lot in comparison with the neighbours here in the Gulf.
Sign of the times. Governments will eventually realise that they cannot continue to waste money in a competitive market. The problem is that GF had its golden share already, EK has reached its peak and now sliding, QR is still on the way up and almost there and EY is just an infant with brand new toys and many more to come.
KU and SV have had their share of problems, typical of the youth and adulthood in the area. WY is an ever growing baby with a great chance now to have their own big toys with certain moderation.
LLCs are a new an successful trend for lower income expats (and others) in the area. However, the higher premium customers, unable to pay for a private jet, will continue to need first and business class operators.
Join Date: Feb 2007
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Bahrain does need an airline and so far they know liquidating GF isnt the best option at all. Hell I'd prefer if some rich saudi investor buys some stakes in GF atleast there will be a good return for him if he knows a thing or two bout airlines
Join Date: Jul 2007
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I have heard this too, Gulf Air will liquidise resulting in all the current debt being written off and then A.N other airline rising up taking over all the routes and no surprise being backed by the Bahrain government....thjus resulting in a new airline dedicated to Bahrain with no baggage......watch this space.......
