Bahrain Air shareholders are ready to inject 8 million Bahraini dinars ($21.22 million) into the carrier this year to help it overcome its financial troubles, Manama-based Al Wasat daily reports Monday, citing an executive.
.
The investment is conditional on reaching an agreement with the Bahraini government regarding the rescheduling of Bahrain Air 's debt which is not substantial, Ibrahim Al Hamer, the managing director of the privately-owned airline, told the newspaper.
.
Bahrain Air has submitted a request for rescheduling the debt due to the government, he told Al Wasat. Mr. Hamer added he hopes an agreement would be reached within days.
.
Read more: http://www.zawya.com/story/Bahrain_Air_holders_to_inject_USD212m_capital_if_govt_OKs_debt_reschedule-ZW20130204000027/
This comment has been removed by the author.
ReplyDeleteNot very specific on their proposed strategy. If I was a shareholder I would certainly want to know what their strategy is.
ReplyDeleteI hope they're not planing to compete with Etihad, Qatar Air, and Emirates... because their set to lose a lot of money for these shareholders if they do. MENA doesn't need another colossal airline. All these other MENA carriers, like Bahrain Air, MEA, and such need a new business strategy, low cost short flights!
The big carriers have created a niche in the MENA, in my opinion more carriers need to capitalize on that.
Absolutley! even with the low fare strategy they have quite the battle (jazeera, air arabia, fly dubai). It will be interesting to see how they position themselves, Oman Air has also placed a bid for a few new carriers as they up their game as well. Airline industry might be blowing its bubble as we speak I believe
ReplyDelete