Bahrain Government's USD1bn injection improves Gulf Air’s outlook
Gulf Air has joined the ranks of carriers that include China Eastern Airlines, Japan Airlines, Air Nigeria and Air India to have received significant government-backed support this year to assist comprehensive turnaround plans. At the end of Oct-2010, the Bahrain Government - which controls the carrier through state-owned Mumtalakat Holding Company - injected BHD400 million (USD1.06 billion) into the airline. The capital injection more than doubled the carrier's authorised share capital, taking it to BHD530 million (USD1.41 billion).
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