Gulf Air Group Holding ups stake in Bahrain Airport to 44%

      Published on Thursday, 23 January , 2020      527      
Gulf Air Group Holding ups stake in Bahrain Airport to 44%

Gulf Air Group Holding Company, founded in 2010 to consolidate the aviation assets of Mumtalakat, Bahrain’s sovereign wealth fund, has increased its shareholding in Bahrain Airport Services (BAS) to 44%.

The move coincides with a concession agreement that will see BAS continue its role at Bahrain Int’l Airport’s new passenger terminal until 2034. This complements a previous contract signed during the 2018 Bahrain International Airshow. The terminal is due to open in the first quarter of 2020.

According to the agreement, BAS will continue to be the ground handling services agent at the new terminal, providing services for passengers, baggage, aircraft, cargo, catering, and engineering until 2034.

The deal will also see the company provide investment totalling BD7 million dinars (USD18.6 million) in new equipment aimed at improving efficiency while, it said, minimising the environmental impact of its operations.

Bahraini flag carrier Gulf Air (GF, Bahrain Int’l) currently dominates traffic at Bahrain International, accounting for 67.27% of weekly frequencies and 63.57% of weekly seats, according to the ch-aviation capacities module.

Top routes by weekly frequencies include Dubai Int’l (108x), Kuwait (84x), Muscat (48x), and Riyadh (47x).

Category Bahrain News | 2020/01/23 latest update at 9:24 PM
Source : Internet | Photocredit : Google
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