Middle East carrier Gulf Air is nearing a fleet-renewal agreement which will involve replacing the airline’s Boeing 767 fleet at least, part of a wider strategic plan which also includes recapitalising the airline.
Gulf Air revealed parts of the new three-year plan today after the carrier’s new board – reorganised following the withdrawal of the Abu Dhabi Government – endorsed the plan at a meeting in Muscat.
The emirates of Bahrain and Oman each hold 50% of Gulf Air and representatives from each state on the board have agreed to recapitalise the airline, although the extent and mechanism have yet to be disclosed. “This will be subject to final sign-off by each Government,” says the airline.
The strategic programme, entitled Smart Airline, Successful Business, also covers renewal of its fleet, as well as investment in aircraft refurbishment and product upgrades. Chief executive James Hogan says: “These funding decisions mean we can invest in new aircraft and other infrastructure to take this airline forward.”
Gulf Air has a fleet of nine Boeing 767-300ERs and some of these are used for its all-economy Gulf Traveller operation. But the airline has signalled a desire to replace the type and simplify its overall fleet.
“We are in negotiations with the major aircraft manufacturers to finalise the terms for the acquisition of the replacement aircraft,” says Gulf Air. “We hope to sign a memorandum of understanding to this effect in the near future,” teh company adds.
Gulf Air has not indicated the type of aircraft it might introduce. Alongside the 767s the carrier uses Airbus A330s, A340s and A320s.
DAVID KAMINSKI-MORROW / LONDON
Source: Flight International
