Business

Recovery of Gulf Air airlines
by Daniela Simkova

Gulf Air airlines ordered 16 planes of Boeing Co.'s new 787 Dreamliner type. Airlines were about to renew its entire fleet, and they are in the process of communication with Airbus for the A320 planes. Adnan Malek explains: "The total order could be more than 35. We are also in talks with Airbus for the A320 narrow-body planes." New Boeings are priced at $4 billion dollars all together. Gulf Air airlines plans to order another 8 planes of this type. Adnan Malek, a spokesman for Gulf Air airlines said: "The deal is worth $4 billion at list prices but would rise to $6 billion if we include the options." Gulf Air will not finance the planes as an airlines. Some money will be donated by the government and the rest will cover money from financial institutions. "The aircraft will be partially financed by the government and partially through financial institutions. We are currently studying all the options," stated Adnan Malek. The airlines had some difficulties with financial loss of about $1 million dollars a day. In November they lowered their loses from $1 million to $600,000 dollars a day. Mr. Malek hopes that Gulf Air airlines will reach some profitability in a short time period.

by Daniela Simkova for PocketNews (http://pocketnews.tv)

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posted by Blog TechSource @ 2:07 PM