Gulf Air has entered a new phase has reached a unanimous approval of the airline's three-year strategic recovery plan by Gulf Air's Board of Directors. The Board's full commitment to the airline was ratified at a meeting held in the Kingdom of Bahrain on December 18, 2002. It includes an injection of more than $238 million by the three owner states for this year as well as the continued deferral of government debt.
According to President and Chief Executive of Gulf Air, James Hogan, the introduction of new management, both local and international and the radical reappraisal of obsolete and ineffectual processes had already made their mark.
It was also announced that Gulf Air is talking to a number of leading alliances including STAR and One World. A decision about joining one or the other can be expected in the first half of 2003.
Gulf Air was founded in 1950. It is owned by Bahrain, Abu Dhabi and Oman and is the only pan Gulf carrier in the region. The airline's network stretches from Europe to Asia and covers 43 cities in 32 countries. The fleet is one of the most modern in the Middle East and comprises 30 aircraft. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
