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Bahrain SWF To Support Gulf Air

Bahrain’s sovereign wealth fund will continue to offer financial support to Gulf Air.

Bahrain’s sovereign wealth fund will continue to offer financial support to Gulf Air, Trade Arabia reports. Mumtalakat will provide support to the loss-making airline even though it will affect its 2011 earnings, said the fund’s CEO Talal Al Zain. Mumtalakat’s 2009 net loss was $487.2 million, which was mostly due to losses in Gulf Air and Aluminum Bahrain. Last year, the wealth fund said that it would consider selling Gulf Air to the government. Click here for the story from Trade Arabia.

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