News on Abu Dhabi intention to withdraw from Gulf Air

Sources in the Gulf Air on Monday disclosed that the Abu Dhabi Emirate intends to withdraw its share from the Gulf Air.

A source in the company said that the Gulf Air board will hold a meeting this week to discuss the withdrawal. The source added that the whole matter might take six months to finalize.

Gulf Air abstained from confirming this withdrawal. It said in a statement that it will continue its work as usual.

The executive director for the Gulf Air, James Hogan, said he will hold a meeting for the board council later this week after which he will issue information on matters of concern, a statement issued by the company.

Abu Dhabi owns the company with Oman and Bahrain, and the heavily indebted Gulf Air takes Bahrain's capital, Manama as headquarters.

Worthy mentioning that Abu Dhabi established the Union's Company for Aviation which started its flights two years ago.