Gulf Air!

[MichelleB]

Gulf Daily News

Do you think Gulf Air will evert sort themselves out. This is getting a little crazy now, it seems they have continues problems

[abdulla]

Whatever was done to revive the company since 3 months ago is great, but a lot has to be done and its not the best time to change the CE. The company was BLEEDING money, and competition in the airline industry is fierce specially in this region with low cost carriers coming up every year. Now that Gulf Air is a fully owned Bahraini company, its time for them to make it a money making machine instead. I think they can sort themselves, and even if they would need more money to be injected into the company, I guess the government can do that, they would just need more time.

[MichelleB]

Originally Posted by abdulla

Whatever was done to revive the company since 3 months ago is great, but a lot has to be done and its not the best time to change the CE. The company was BLEEDING money, and competition in the airline industry is fierce specially in this region with low cost carriers coming up every year. Now that Gulf Air is a fully owned Bahraini company, its time for them to make it a money making machine instead. I think they can sort themselves, and even if they would need more money to be injected into the company, I guess the government can do that, they would just need more time.

I agree we you 100%, lets just hope they sort themselves out soon and make Bahrains national airline a great one!

[abdulla]

Originally Posted by Gulf Daily News

Gulf Air is planning to launch part of its shares for subscription next year, it was revealed last night. It will allow private institutions, including Gulf companies, to buy shares, chairman Mahmood Al Kooheji told Akhbar Al Khaleej. With the government's support, the management aims to lead the company back to profitability, which will consolidate its status and raise its shares in both Bahrain and the Gulf markets, Mr Al Kooheji said.
The government is determined to maintain Gulf Air's position as an essential and strong backer for the national economy, he said.
"Gulf Air is now on the right path to success."

Link : Gulf Daily News

I guess thats great news, gives us more hope in the company. But anyone else see this as a bad idea? I mean look at it from this way, this company is bleeding millions per year, probably by next year, if there are any profits then they won't be much. This would make its stock prices go for low, what do you guys think?

[The_German]

"We don't need to see Gulf Air making millions in profits, to us the profit is to be able to cover its cost of operations and the real benefits come from the direct and indirect services and employment provided by having Gulf Air."

Source: Gulf Daily News

Best announcement ever for someone who plans to list shares.
Put all your money into a company that aims at NOT generating profit !

[abdulla]

From today's GDN

Originally Posted by Gulf Daily News

Gulf Air will not be in a position to go public in 2008, as previously stated, parliament's financial committee chairman Dr Abdul Aziz Abul told our sister paper Akhbar Al Khaleej. The company incurred losses of BD20m in 2003 and made BD2.5m - profit by selling assets in 2004. Losses in 2005 stood at BD85m and BD130m last year. The company is expected to incur losses of BD157m this year, Dr Abul said.
Bahrain Mumtalakat company injected BD20m in April and BD30m in May and BD30m last month into the company. For any company to go public, it has to post profits for two consecutive years.

source: Gulf Daily News

[mobin]

The Arab states of the Persian Gulf all have significant revenues from oil and gas and have considerably small local populations. This has raised their respective per capita incomes to higher than those of their neighbors. To meet the labor shortages they host large numbers of temporary non-citizen economic migrants from South Asia and Southeast Asia (mostly the Philippines and Indonesia). In the past there were also significant numbers of immigrants from Jordan (mostly of Palestinian origin) and Egypt.


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Mobin
guerilla

[Boy1236]

I traveled on gulf air few years ago, they sucked (BIG time) !

everything was just random, late and confusing

even the airplane that I got on was old, and it was shaking all the way (4-6 hours trip)

I hope they are better now, but I'm still not going to try them yet ...