Bahrain's Government reviewed Gulf Air's administrative and financial status and agreed to continue to support the airline, according to local reports from sources including Gulf Daily News, Bahrain News Agency, Al Watan and Al Wasat. Bahrain's Shura Council chairman of finance and economic affairs Khalid Husain Mahdi Al Maskati said the Council approved the Government's request for BHD185 million (USD490.6 million) funding for the airline, conditional on the carrier implementing a restructuring programme to reduce losses to BHD58 million (USD153.8 million) by 2017. The restructuring reportedly may result in Gulf Air reducing its fleet and workforce by 50%.
Gulf Air to receive USD490.6m Government funding and commence restructuring
You may also be interested in the following articles...
Global commercial aircraft deliveries fell in 2016 as Boeing again outsold Airbus; 2017 to be a peak
The global commercial aircraft fleet grew by 4% in 2016 and the year ended with an order backlog of more than nine years of production. Among the regions, North America still has the biggest and oldest fleet, but the lowest ratio of orders to aircraft in service. By contrast, Middle East has the fewest in service, but the highest ratio of orders to current fleet numbers.
This report gives an overview of the number of commercial aircraft deliveries in 2016 and the outlook into 2017 and beyond. It also looks at numbers in service and on order by region. It is based on preliminary numbers from the CAPA Fleet Database and guidance on 2016 deliveries from Airbus and Boeing, who have yet to announce final numbers.
The data indicate that total worldwide deliveries fell in 2016, the first such decline for six years, as a result of delays to new aircraft programmes. Boeing delivered more aircraft than Airbus for the fifth straight year, but its deliveries fell short of its 2015 level, while Airbus increased its numbers year-on-year. Total deliveries will likely rise again in 2017, but this may prove to be a peak year.
Australia and New Zealand hit highs in 2016, but 2017 will lose a little lustre
Australia and New Zealand enter 2017 on a different level from 12 months previously. The biggest change, not just compared to 2016 but since the global financial crisis, is that Qantas is revelling in a successful turnaround.