Gulf Air to receive $490m in government funding
- Bahrain: Tuesday, October 16 - 2012 at 02:03
Gulf Air has announced it will receive BD185m ($490.6m) in new funding, Gulf Daily News has reported. The funding will be used to fulfil the airline's current debt obligations and meet its future restructuring costs, Gulf Air CEO, Samer Majali said. "The decision to provide further funding for the national carrier recognises its position as a key component of Bahrain's economy and infrastructure, providing direct and indirect employment to over tens of thousands of people," Majali said.
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