Gulf Air reinforces its important position as the Kingdom of Bahrain’s National Carrier

Gulf Air’s recently appointed Board of Directors led by Deputy Premier H.E. Shaikh Khalid bin Abdullah Al Khalifa met yesterday and discussed the rapid implementation of an accelerated strategy geared towards the Airline's long-term sustainability. During the meeting, Gulf Air's new Board of Directors reinforced the airline’s position as the National Carrier for the Kingdom of Bahrain and gave their full support to the restructuring plans. The board stressed the importance of Gulf Air as key national infrastructure asset helping to maintain an independent destination status for Bahrain by providing links to key regional and global markets, playing a key role in supporting the Kingdom’s economy and helping attract investment. Recognizing that some tough decisions and choices would have to be made in the short term to ensure the long term sustainability of the Airline, the Board passed a resolution to form an Executive Restructuring Committee from members of the board to oversee the implementation of the restructuring plan led by the Airline’s management. The Committee will also monitor the spending of the funding granted by His Majesty King Hamad bin Isa Al Khalifa. Also formed were the Audit committee and Governance Committee. His Excellency Shaikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister & Chairman of the Board of Gulf Air said: “Following the issue of Decree-Law No. 54 for 2012 by His Majesty King Hamad bin Isa Al Khalifa issued on 11 October 2012, pursuant to which funds of BD185 million were allocated to the restructuring of Gulf Air, we have appointed three committees: the Executive Restructuring Committee, the Audit Committee and the Governance Committee. The formation of these committees demonstrates our commitment to support Gulf Air and transform it into an airline that serves the people and economy of Bahrain, contributing to its growth and diversity.” To facilitate decision-making and the implementation of the restructuring plan, the Board of Directors of Mumtalakat Holding BSC were appointed as the Airline’s new Board of directors. The Board of Directors of Gulf Air is chaired by Deputy Prime Minister H.E. Shaikh Khalid bin Abdullah Al Khalifa. The other Gulf Air Board members are: the Minister of Finance H.E. Shaikh Ahmed bin Mohammed Al Khalifa, Political and Economic Adviser at HRH Crown Prince’s Court H.E. Shaikh Mohammed bin Essa Al Khalifa, Minister of Transport H.E. Mr. Kamal bin Ahmed Mohammed, Minister of Works H.E. Mr. Essam Abdulla Khalaf, Chief Executive Officer of Mumtalakat Mahmood Hashim Al Kooheji, Dr. Esam Abdulla Fakhroo, Dr. Samir Al-Jishi, and Mr. Ridha Abdullah Faraj.