Gulf Air

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23rd April 2002 | 08:46

#1 (permalink)

Fluckbynight

Thread Starter

Joined: Apr 1999

Posts: 15

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Gulf Air

Any news?

23rd April 2002 | 20:59

#2 (permalink)

ironbutt57

Joined: Jun 2001

Posts: 3,780

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From: Surrounded by aluminum, and the great outdoors

Local newspaper....owner member states deciding on 275 million USD cash infusion as we speak....

24th April 2002 | 06:26

#3 (permalink)

Bhing

Joined: Oct 2000

Posts: 30

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From: Far East

AGAIN ??????????

24th April 2002 | 10:21

#4 (permalink)

BAE146

Joined: Apr 2000

Posts: 212

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From: fantasy island

so what's new ?

25th April 2002 | 18:21

#5 (permalink)

boiler

Joined: Feb 2002

Posts: 402

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From: Somewhere nice and warm

The fact that GF is getting cash is normal in the Middle East. No carrier there makes a profit (not even EK), so the governments have no choice but to pay up. No one can afford to let their national carrier go under.

26th April 2002 | 13:27

#6 (permalink)

Ghostflyer

Joined: Feb 2000

Posts: 455

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From: Bit nosey aren't you

Boilermaker,

Somebody on this site is talking rubbish and you had the last post! If you want to find out the facts for EK their annual report will be issued on the 30th April.

Ghost

26th April 2002 | 23:32

#7 (permalink)

HagasTuft

Joined: Apr 2000

Posts: 33

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From: Briz Vegas

Could someone clarify for me some ownership questions of GF?

If Gulf is partly owned by the government of Qatar, who ownes Qatar air? And if it's the same owner, then why have interests in both?

Hagas

27th April 2002 | 01:49

#8 (permalink)

G.Khan

Guest

Posts: n/a

Yes - Gulf Air is owned jointly by Bahrain, Oman, Qatar and the UAE, (well Abu Dhabi anyway) and yes there is a Qatar airline and an Omani airline both with conflicting interests.

27th April 2002 | 20:48

#9 (permalink)

HagasTuft

Joined: Apr 2000

Posts: 33

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From: Briz Vegas

Thanks MTQ
However that seems to muddy the waters a bit for me.
If the ruling family kicked it off, and the government own 50%, whilst an insurance company (State owned?) have a stake, why have an interest in another (loss making) carrier?

ps: l hope that's not your sister in their magazine adds?
Couldn't they find anyone better?

Last edited by HagasTuft; 27th April 2002 at 20:53.

28th April 2002 | 08:19

#10 (permalink)

boiler

Joined: Feb 2002

Posts: 402

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From: Somewhere nice and warm

OOHH, Ghostflyer, touchy are we??? Numbers my dear friend mean nothing. Those finance people can make anything look profitable these days. Just ask ARTHER ANDERSON (does Enron mean anything to you?).

28th April 2002 | 10:15

#11 (permalink)

BahrainLad

Joined: Jan 2001

Posts: 555

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From: Fantasy Island

I believe a trained chimp could run a profitable airline if the fuel bill at its home base was....ahem...."taken care of"....

1st May 2002 | 12:19

#12 (permalink)

Albert of Arabia

Joined: Aug 2000

Posts: 13

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Boilermaker. If EK want to somehow invent a profit and con Pricewaterhouse Coopers, I say go for it! The bigger the 'fake profit', the larger my real bonus.

GABBDRUYNR.

1st May 2002 | 14:45

#13 (permalink)

boiler

Joined: Feb 2002

Posts: 402

Likes: 0

From: Somewhere nice and warm

If that is the only way to 'hide the evidence', then so be it. Congrats on your big bonus, I am sure there are a number of you out there who deserve it.