Bahrain to sell stake in Gulf Air
Mumtalakat, Bahrain’s government investment arm, plans to sell part of Gulf Air to private investors once the airline returns to profitability.
The sale of Gulf Air, Bahrain’s national carrier, is part of a broader new strategy to generate cash and diversify Mumtalakat’s portfolio of investments, The National newspaper reported from the sidelines of the World Economic Forum in Morocco.
“We own 100 per cent of Gulf Air. There’s no need for us to keep 100 per cent ownership,” says the fund’s chief executive, Talal al Zain.
“How we do it depends on the timing and the interest.”
By TravelMole Asia
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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