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AIR - Airbus SE News Story

€112.72 -1.9  -1.6%

Last Trade - 18/06/21

Sector
Industrials
Size
Large Cap
Market Cap £76.05bn
Enterprise Value £78.34bn
Revenue £42.72bn
Position in Universe 14th / 839

UPDATE 1-Gulf Air delays jet deliveries in difficult market

Sun 16th May, 2021 12:53pm
(Adds detail, quotes)
    DUBAI, May 16 (Reuters) - Gulf Air's chairman on Sunday said
that market conditions remain difficult and that the Bahrain
state carrier had reached a deal with Airbus  AIR.PA  and Boeing
 BA.N  to delay deliveries of some new aircraft.
    Flying remains at very low levels around the world as
airlines struggle to rebound from the COVID-19 pandemic that has
left many planes grounded or flying near-empty.
    "It is very difficult because you are bound by your
destinations. We have the fleet. We have the crew. We would like
to fly to as many as places as we can, but we have to factor in
demand," Zayed bin Rashid al-Zayani told reporters at the
Arabian Travel Market exhibition in Dubai.
    The Bahraini airline has reached an agreement with Airbus
and Boeing to delay aicraft that were scheduled for delivery in
2020 and 2021 by about six to nine months, he said.
    Zayani, also a Bahraini government minister, did not
disclose which aircraft had been delayed, but he said the
airline would receive six new jets this year, twice as many as
it did in 2020.
    Gulf Air has previously said it was looking to delay
deliveries of Airbus A320neo jets and Boeing 787-9 Dreamliners. 
    The airline is not cancelling aircraft orders, Zayani said.
    Asked if Gulf Air was receiving "government support", he
replied: "who isn't?"
    The airline received 36 million dinars ($95.6 million) from
the Bahrain government last year, according to a government bond
prospectus seen by Reuters.

 (Reporting by Alexander Cornwell
Editing by David Goodman)
 ((Alexander.Cornwell@thomsonreuters.com;))
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