Aviation analysts are warning that Gulf Air could be losing the fight for survival following a decision in the Bahrain parliament to reject a $1.75bn bailout to rescue the ailing airline.
MPs voted against the funding support and the bid has been referred to the Shura Council.
The parliament has been demanding a number of changes at the airline including a Bahraini national as chief executive who must have 20 years experience in the industry as part of a new Bahrainisation approach.
The parliamentarians also called for officials to be prosecuted for squandering public money. Ironically MPs also said they wanted to bring to an end external interference that affects internal policies.
MPs also agreed the airline should revise its decision-making about destinations, buying and selling aircraft and contracts with consultancy firms or recruitment agencies as well as requiring the chief executive and the performance of senior management to be closely monitored.
A spokeswoman from Gulf Air said: “Gulf Air is disappointed by Parliament’s decision not to accept the Government’s proposal to re-capitalise Gulf Air. Gulf Air understands that the decision has now been referred to the Shura Council for further discussion as the democratic processes continues and looks forward to a resolution that will actively address Gulf Air’s current position and secure its long term sustainability.”
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