Gulf Air to Receive $1.06b Loan
14.05.2011 Bahrain
Earlier this week, Bahrain MPs approved loans worth BD400 million ($1.06 billion) for Gulf Air, even though the payments were sanctioned without their approval.
Parliament had considered rejecting a Royal Decree sanctioning the loans issued during parliament's summer recess last year.
However, Chairman Khalifa Al Dhahrani intervened saying the rejection would hamper Gulf Air's recovery plan, since the national carrier would have to return the cash.
MPs are unhappy at government bailouts for the airline, which has been accused of draining public money.
“The company has seen changes in the management for the past few years, but it has never managed to materialize recovery despite announcing dates,” said Al Asala MP Abdulhaleem Murad.
Parliament had considered rejecting a Royal Decree sanctioning the loans issued during parliament's summer recess last year.
However, Chairman Khalifa Al Dhahrani intervened saying the rejection would hamper Gulf Air's recovery plan, since the national carrier would have to return the cash.
MPs are unhappy at government bailouts for the airline, which has been accused of draining public money.
“The company has seen changes in the management for the past few years, but it has never managed to materialize recovery despite announcing dates,” said Al Asala MP Abdulhaleem Murad.
Previous PostBahrain’s Emergency to be Lifted June 1st
Latest events
I/ITSEC 2024
02 - 06 Dec 2024Orlando, Florida - United Statesintersec 2025
14 - 16 Jan 2025World Trade Centre (WTC) Dubai - United Arab EmiratesIDEX & NAVDEX 2025
17 - 21 Feb 2025Abu Dhabi National Exhibition Centre - ADNEC - United Arab EmiratesDefence Exhibition Athens - DEFEA
06 - 08 May 2025Metropolitan Expo Athens - Greece