Gulf Air has confirmed the start of a three-year strategic recovery plan, and the three shareholder governments - Abu Dhabi, Bahrain and Oman - have agreed to inject a further $238 million into the airline.
A decision on the plan was taken at a directors' meeting in Bahrain in mid-December. Gulf Air chief executive James Hogan says the recovery package would centre on brand development, fleet re-construction, network assessment, and the development of alliances and customer services.
Hogan, who was appointed last May ago to oversee the revival of the airline's fortunes, is undertaking a full review of the network. He says that "talks are under way with Airbus, Boeing, Bombardier and Embraer to discuss requirements for the next 10 years". Gulf Air operates a mainly Airbus fleet of 10 A320s, six A330-200s and five A340-300s. It also has nine Boeing 767-300ERs.
The airline has never operated small regional jets and has not said which types it is interested in acquiring, but recently had a local demonstration of an Embraer 170.
In 2003 Gulf Air is expected to lease several A320s and A330s to widen its network, concentrating on long-haul services to Australia and the USA.
Gulf Air's chairman Sheikh Hamdan bin Mubarak al Nahyan says the latest cash injection would be made in two equal instalments, with the cost shared equally among the three governments.
Source: Flight International
