Gulf Air Restructures Again

Gulf Air will restructure again this summer to help restore the carrier after several years of losses.  The Bahrain based company Mumtalakat Holdings is looking for advisors to help rebuild the airline which has spent most of the decade in and out of recovery campaigns.   Gulf Air has talked with a number of different asset companies and specialist aviation consultancies including Seabury and Cesart Consulting, AT Kearney, and Lek Consulting.

Consultants will report to the new chief executive Samer Majali, who will assume his post on 1 August 2009.  Mr. Majali replaces Bjorn Naf who served as CEO for two years and had promised to bring the airline back to profitability during his tenure. When Mr. Naf joined the carrier in 2006, he said it was losing US $1 million dollars a day.

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