Home / UAE may buyout Qatar's stake in Gulf Air

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.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018