UAE may buyout Qatar's stake in Gulf Air
Negotiations are taking place between the UAE and Qatar regarding the purchase of Qatar’s 25% stake in Gulf Air, according to Al Sharq Al Awsat
According to a source that spoke to Al Sharq Al Awsat, there are negotiations taking place between the UAE and Qatar regarding the purchase of Qatar’s 25% stake in Gulf Air.
The negotiations come on the heel of Qatar’s decision to withdraw from the venture because of the airline’s financial woes.
The buyout by the UAE of Qatar’s stake may be constrained by an ownership arrangement that does not allow more than a 25% stake to any of the existing shareholders — UAE, Qatar, Bahrain and Oman.
According to Al Sharq Al Awsat, the government of the UAE is firmly committed to helping Gulf Air through the financial problems that threaten its bankruptcy.