Bahrain politicians let Gulf Air fly 'free', withdraw bailout payback vote
Bahrain’s national carrier Gulf Air has been given a reprieve by its politicians who decided to withdraw a vote that would have forced the airline to hand back a $490.7 million year-old bailout.
“We welcome the parliamentary panel’s reconsideration of the veto. We believe this is the correct decision based on the result being achieved by Gulf Air in its on-going restructuring process,” a Gulf Air spokesperson stated in an email.
Bahraini media reported on Saturday that parliamentary committee to veto a 2012 royal decree that had handed Gulf Air the bailout. The move by some of Bahrain’s politicians was reported as being largely symbolic and in protest of the bailout being granted without parliamentary approval.
- Gulfnet collaborates on global cybersecurity platform
- Middle East poised to become an industry leader in 3D printing
- UAE Space Agency, Lockheed Martin ‘blast off’ with professional training program
- Show me the money: Lebanon addresses bank transfer delay problems
- Kuwait to receive French helicopters in $1.1B deal
- Gulf Air forced to take off with new pilots
- US Dollar Reverses Gains, Stock Markets Post Record Losses as Bailout Fails to Pass House Vote (Forex Video)
- Gulf Air plans first centralized reservations system
- Gulf Air trade unions refuse communication with management as debacle continues
- Bahrain's ruler demands Gulf Air to be recapitalized