No change in business strategy following withdrawal of Abu Dhabi as shareholder –
Manama, Bahrain: There will be no change to Gulf Air’s core approach to business or to its on-going business strategy as a result of the withdrawal of Abu Dhabi as a shareholder in the airline, said Gulf Air President and Chief Executive James Hogan today.
Abu Dhabi announced today that it will withdraw its shareholding in the airline over the next six months.
He said:
“For the wide Gulf Air family - our customers, our staff and our suppliers - the key issue is how we are run; and that will be business as usual.
“We will continue to build upon our successes, enhancing our brand and our services to reinforce our position as the leading airline in the region.
“In the last three years, we have made massive strides in our business performance. We have done that by focusing on our customers, on our staff and on our services. We will continue to do so into the future.”
Mr Hogan welcomed the confirmation of continued support from the Kingdom of Bahrain and the Sultanate of Oman, published today in a joint press statement from the Government of the two States.
He said:
“I have been delighted to see such strong commitment from the Kingdom of Bahrain and the Sultanate of Oman and I thank them for their continued support. I look forward to reporting to them on the further successful development of the airline in the future.
“Having worked well with our many friends and colleagues in Abu Dhabi for many years, we would like to thank them for their support over recent years. We understand that they wish to focus their airline development strategy in other directions and we wish them luck and success.
“Our focus, however, will remain on our own business and our own key strategic initiatives.”
About Gulf Air
Gulf Air was founded in 1950. Today, it is owned by the Kingdom of Bahrain, the Sultanate of Oman and the Emirate of Abu Dhabi and is the only truly pan Gulf carrier in the region. The airline’s network stretches from Europe to Asia and covers 44 cities in 30 countries. The fleet is one of the most modern in the Middle East and comprises 34 aircraft.
The airline, in the last year of a three-year strategic recovery programme, headed by President and Chief Executive James Hogan, is making rapid strides towards regaining profitability in 2005 and aims to further evolve by taking its renowned cultural strengths, which have been gained over more than half a century, into a global environment.
The dramatic turnaround in Gulf Air’s fortunes has won international recognition. In January 2004, The Centre for Asia Pacific Aviation (CAPA) presented the airline with the prestigious Airline Turnaround of the Year Award for 2003. Gulf Air was also the recipient of the 2003 Platinum Award for the Best Airline in the Middle East and North Africa, recognising the airline’s commitment to service excellence.
Winner - Middle East and North African Platinum Best Airline Travel Award 2004
Winner - Skytrax Most Improved Airline Award 2004
Winner - Skytrax Best First Class Onboard Food Category 2004
Winner - Skytrax Best Business Class Check-in Category 2004
Official Airline and Sponsor of the Gulf Air Bahrain Grand Prix 2005
