The agreement was signed by Bahrain Air’s Chairman, Shaikh Mohammed bin Abdulla Al Khalifa and BMI Bank’s Chief Executive officer, Jamal Al Hazeem in the presence of senior officials from both organizations at a ceremony that was held at the Bank’s corporate headquarters at the Bahrain World Trade Center. Initiated by the airline’s Board of Directors, the capital increase will be used to fund the airlines future growth in line with its approved expansion strategy which aims to rapidly boost its operations within the region through an enhanced network with better flight frequency.
“The Bahraini aviation industry continues to account as a significant driver of our economy and through its air transportation services to various destinations both within the region and worldwide, directly contributes to the economic well-being of those countries as well. Bahrain Air, a relatively young airline, today plays a major role in linking our country with major cities within the region and has been growing from strength to strength over the years. As an innovative young Bahraini Bank, we believe it is our responsibility to be able to provide such enterprises with the right financial advice and solutions that consequently lead to a positive impact on our economy as a whole. We are therefore pleased with our appointment as Bahrain Air’s financial advisor on its proposed capital increase which gives us an opportunity to showcase our unique Investment Banking expertise and assist them in achieving their key financial goals as well as expansion and growth objectives,” Jamal Al-Hazeem, Chief Executive Officer of BMI Bank said.
“At BMI Bank, we constantly strive to deliver a wide range of unique financial solutions and services to our customers and look forward to strengthening this partnership with Bahrain Air over the near future yielding positive results to both our customers as well as stakeholders.”
“We are glad to be in collaboration with a renowned institution like BMI Bank and to appoint them as our financial advisers. Bahrain Air is a private national airline in the Kingdom of Bahrain. Both organizations are well known for the high quality of their service. I hope this mutual agreement between Bahrain Air and BMI Bank will help us achieve a positive spiral of improved finances leading to ever higher standards of service leading to further improved finances,” Bahrain Air’s Chairman, Shaikh Mohammed bin Abdulla Al Khalifa said.
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“We appreciate BMI Bank for the constructive discussions which have successfully concluded with the signing of this agreement today. I hope this agreement will benefit our partners and colleagues in both organizations and lead to future progress and success.”
“The airline industry is a challenging one globally. In the Gulf region where many airlines are owned by governments with deep pockets, it is especially competitive. In order for us to maintain our position as an innovative and dynamic airline, it is important that we have the proper financial resources and strong partners going forward. We are proud to engage with BMI Bank as our financial advisers. We are both young companies and share a common vision of sustainable growth,” Richard Nuttall, Chief Executive Officer of Bahrain Air said.
“Through BMI Bank’s Investment Banking services, the Bank is keen to offer advisory services and solutions to a diverse range of local Bahraini companies. These services include equity placements (private placements), Mergers and Acquisition advisory services, divestures, arranging debt (bond issues) and equity capital market services (listings, rights issues etc) amongst others. By being assigned as financial advisors to Bahrain Air, we feel honored with the opportunity to service one of Bahrain’s leading privately held companies. As a professional and experienced service provider, we are keen to enhance our reputation as well as build a strong foothold within the financial advisory services practice essentially catering to the Bahraini companies whilst supporting the local economy,” Khaled Zainalabedin, Assistant General Manager and Head of Investment Banking at BMI Bank, said.