Bahrain politicians let Gulf Air fly 'free', withdraw bailout payback vote
Gulf Air will offer daily flights to Dubai World Central starting in December (Courtesy of Gulf Air)
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.
- Nip, tuck: Dubai's grand plans for being a major player in medical tourism
- Zain, UNHCR, Facebook to bring free internet access to urban refugees in Jordan
- Yemen Central Bank headquarters to relocate from Sanaa to Aden
- IMF report details the crippling economic effects of conflict in MENA
- Start Up Lebanon entrepreneurs head to Silicon Valley Roadshow
- 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