Home GCC Bahrain Mashreq Loans $80mn To Gulf Air The struggling Bahraini carrier will use the amount to meet its medium-term capital needs. by Aarti Nagraj February 13, 2012 Bahrain’s Gulf Air has signed a financial facility of $80 million with Mashreq Bahrain to meet its medium-term working capital requirements. “Gulf Air is focused on ensuring a sustainable and financially viable future, and we thank Mashreq Bahrain for leading this facility, reflecting a commitment to a long-term strategic partnership,” said Samer Majali, Gulf Air CEO. A few weeks ago, Majali had admitted that the struggling airline might downsize its fleet and network. He also said that Gulf Air might tap into Bahrain’s sovereign wealth fund Mumtalakat, which has a stake in the carrier. Last month, local reports claimed that Bahrain’s government was considering dissolving the airline, shrinking it, selling it or creating a new carrier. Tags Breaking News 0 Comments You might also like 19 injured after fire breaks out in a building in Abu Dhabi Two killed and over 100 injured in Abu Dhabi gas explosion Dubai’s DIFC Authority To Split Into Two Entities Syrian Defence Minister Killed