Tuesday 19 October 2010

UPDATE 1-Bahrain to inject $1 billion into Gulf Air | Reuters

Bahrain plans to give an extra 400 million Bahraini dinars ($1 billion) in fresh capital to loss-making national carrier Gulf Air [GULF.UL], the company said on Tuesday, adding to the country's fiscal burden.

'Gulf Air can confirm that its owners have raised its authorized share capital by an additional 400 million (dinars),' a spokeswoman for Gulf Air said in an e-mailed statement to Reuters.

She said the airline's capital would be increased to 530 million dinars."

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