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FINANCIAL NEWS
Bahrain- Gulf Air inks deals with Boeing, Airbus to amend orders
13 Nov 2012
(MENAFN) Gulf Air CEO, Samer Majali, stated that due to tough economic conditions, the Bahrain-based carrier adjusted plane orders from both Boeing and Airbus in order to save around USD2.5 billion, reported Arabian Business.
Majali said that the two plane manufacturers agreed to amend the orders, adding that the revised Boeing deal allows Gulf Air to lessen its wide-body 787s Dreamliner order from 24 to 12?16 aircraft, bearing in mind the carrier’s strategic needs.
The CEO said that the airplanes are scheduled for delivery by the end of 2020, and will replace the carrier’s current wide-body fleet.
On the other hand, the amended Airbus agreement lets the carrier cancel its 20 A330-300 aircraft it has on order, and to replace them with 8 A320neo jets, all to be delivered by the end of 2012, whereas another 16 A320neo planes will join the carrier by the end of the decade.
It is worth noting that in October, the Bahraini King issued a royal decree to extend USD491 million to the carrier.
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