Moves comes just one month after it appointed new board to oversee airline’s restructuring
Bahrain’s parliament has voted to replace the entire Gulf Air board of directors, just one month after appointing a new one to oversee the airline’s restructuring plan, it has been reported.
MPs also voted in favour of getting rid of two new consultancy firms hired to help turn the ailing airline around, Gulf Daily News said.
“Gulf Air has suffered enough from boards lacking knowledge in the past and because of that, firms that are not specialised have been brought in to provide help - but instead of doing so, they have drained the company further,” MP Abdulhameed Al Meer said in parliament yesterday.
Gulf Air has been struggling to compete against GCC rivals amid rising fuel prices and declining passenger numbers. The carrier was also hit hard by last year’s regional political instability.
The carrier, which once had the biggest network in the Gulf, has axed several routes from its network in recent months as it moves to stem its losses.
The airline has slashed the number of its destinations from 120 to 40 and has said as many as 1,800 staff could be laid off as part of a deal to secure a BD185m ($490.8m) bailout.
Samer Majali, the CEO bought in to restructure the airline’s operations in 2009, resigned in November. Majali will remain in his position until the end of the year.