The board stressed the importance of Gulf Air as key national infrastructure asset helping to maintain an independent destination status for Bahrain by providing links to key regional and global markets, playing a key role in supporting the Kingdom’s economy and helping attract investment.
Recognizing that some tough decisions and choices would have to be made in the short term to ensure the long term sustainability of the airline, the Board passed a resolution to form an Executive Restructuring Committee from members of the board to oversee the implementation of the restructuring plan led by the airline’s management. The Committee will also monitor the spending of the funding granted by His Majesty King Hamad bin Isa Al Khalifa. Also formed were the Audit committee and Governance Committee.
“Following the issue of Decree-Law No. 54 for 2012 by His Majesty King Hamad bin Isa Al Khalifa on 11 October 2012, pursuant to which funds of BD185 million were allocated to the restructuring of Gulf Air, we have appointed three committees the Executive Restructuring Committee, the Audit Committee and the Governance Committee. The formation of these committees demonstrates our commitment to support Gulf Air and transform it into an airline that serves the people and economy of Bahrain, contributing to its growth and diversity,” Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of the Board of Gulf Air said.
To facilitate decision making and the implementation of the restructuring plan the Board of Directors of Mumtalakat were appointed as the airline’s Board of directors. The Board of Directors of Gulf Air is chaired by Shaikh Khaled bin Abdulla Al Khalifa, Deputy Prime Minister. The other Gulf Air Board members are Shaikh Ahmed bin Mohammed Al Khalifa, Minister of Finance, Shaikh Mohammed bin Essa Al Khalifa, Political and Economic Adviser at HRH Crown Prince’s Court, Kamal bin Ahmed Mohammed, Transport Minister, Essam Abdulla Khalaf, Minister of Works, Mahmood Hashim Al Kooheji, Chief Executive Officer of Mumtalakat, Dr. Esam Abdulla Fakhro, Dr. Samer Al Jishi, and Redha Abdulla Faraj.