MANAMA, 14 September 2005 — There will be no change to Gulf Air’s core approach to business or to its ongoing business strategy as a result of the withdrawal of Abu Dhabi as a shareholder in the airline, according to Gulf Air President and Chief Executive James Hogan.
Abu Dhabi announced Monday that it will withdraw its shareholding in the airline over the next six months. However, the governments of Bahrain and Oman confirmed yesterday their unequivocal and full support to Gulf Air.
Gulf Air was founded in 1950 and was the only truly pan Gulf carrier in the region. The airline’s network stretches from Europe to Asia and covers 44 cities in 30 countries. The fleet is one of the most modern in the Middle East and comprises 34 aircraft. The airline is in the last year of a three-year strategic recovery program.
In a statement to reassure both Gulf Air’s employees, suppliers and customers Hogan said, “For the wide Gulf Air family the key issue is how we are run, and that will be business as usual. We will continue to build upon our successes, enhancing our brand and our services to reinforce our position as the leading airline in the region. In the last three years, we have made massive strides in our business performance. We have done that by focusing on our customers, on our staff and on our services. We will continue to do so into the future.”
Hogan welcomed the confirmation of continued support from Bahrain and Oman and seemed to throw down the gauntlet to Abu Dhabi’s Etihad Airways.
“I have been delighted to see such strong commitment from Bahrain and Oman and I thank them for their continued support. I look forward to reporting to them on the further successful development of the airline in the future. Having worked well with our many friends and colleagues in Abu Dhabi for many years, we would like to thank them for their support over recent years. We understand that they wish to focus their airline development strategy in other directions and we wish them luck and success. Our focus, however, will remain on our own business and our own key strategic initiatives.”
