Manama, Mashreq Bahrain, a regional financial institution, and Bahrain’s national carrier Gulf Air announced the signing of a financial facility of US$80 million for the airline.

The signing ceremony, was held at Gulf Air’s Headquarter and signed between Samer Majali, Chief Executive Office of Gulf Air and John Iossifidis, Head of International Banking Group, Mashreq. 

Samer Majali, Chief Executive Officer of Gulf Air said, “Gulf Air is focused on ensuring a sustainable and financially viable future, and we thank Mashreq Bahrain for leading this facility, reflecting a commitment to a long-term strategic partnership which we look forward to building upon.” 

John Iossifidis, Head of International Banking Group, Mashreq said, “This transaction clearly reflects Mashreq’s continuing support to the Kingdom of Bahrain and its growth, as well as supporting the national carrier Gulf Air.  Mashreq Bahrain has made great inroads into the corporate arena in Bahrain since the inception of its corporate banking business. In short time, we have established relationships with over 20 large Bahraini organizations with commitment and credit lines of over BHD 200 million.”

Source: Gulf Air