Gulf Air wishes to clarify as follows:
The lease agreement signed between Jet Airways and Gulf Air was for an initial period of 6 months on a wet lease. Some coverage has claimed that the decision to continue with a dry lease after the 6 month wet lease has been canceled. This is not correct as no such agreement existed.
Under the terms of the current agreement Gulf Air has an option to sign a new agreement for a dry lease after the expiration of the wet lease but this was subject to several business considerations including market conditions.
After careful analysis of various commercial and other business considerations, Gulf Air has decided not pursue the dry lease option for the foreseeable future.
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Gulf Air clarifies reports regarding Boeing 777 lease agreement with Jet Airways
- Bahrain: Wednesday, April 22 - 2009 at 11:25
- PRESS RELEASE
With reference to some recent media reports stating that Gulf Air has canceled its Boeing 777 lease agreement with Jet Airways.
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Notes and media contacts
About Gulf AirFounded in 1950, Gulf Air is the proud national carrier of the Kingdom of Bahrain. Having been operating for over half a Century, it ranks as one of the oldest airlines in the Middle East region. Though it continually strives to develop; its goal has remained unchanged - to maintain a constant commitment to the latest aviation technology and an adherence to traditional Arabian hospitality. It is currently owned by Bahrain Mumtalakat Holdings Company.
One of the prime motives of the carrier is to link Bahrain to the GCC as well as connect it to the rest of the world. The airline's network stretches from Europe to Asia, connecting 41 cities in 27 countries, with a current fleet consisting of 32 aircraft. Renown for its direct network to its non-stop flights schedules, Gulf Air covers the Middle East, the Americas, Africa and Asia-Pacific.
The airline's business strategy is to re-fleet itself over the next five years to further strengthen its presence and continue its aim to become the carrier of choice. It recently signed a deal with Boeing worth nearly $6bn to purchase up to 24 Boeing 787 aircraft, and another deal with Airbus for 35 aircraft, including A320s and A330s.
Gulf Air is the Official Airline and Sponsor of the Gulf Air Bahrain Grand Prix 2009 and London based football club Queens Park Rangers.
For more information, please contact:
Ms. Katherine Kaczynska
Corporate Communications Manager
Gulf Air
Phone: 00 973 36500292
Posted by Rima Ali Al MashniWednesday, April 22 - 2009 at 11:25 UAE local time (GMT+4)
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