Gulf Air Group raises stake in BAS to 44pc

Gulf Air Group Holding has increased its ownership in Bahrain Airport Services (BAS) to 44 per cent, strengthening the Mumtalakat-owned holding company’s control over a key strategic aviation asset. The cash injection will also allow BAS, the ground handling services provider at Bahrain International Airport (BIA), to become a major regional and possibly international player, offering its ground handling services to airports in other countries.

“This purchase allows BAS to play an even more significant role in BIA’s transformation into a world-class boutique airport,” said the Minister of Transportation and Telecommunications and Chairman of Gulf Air Group Holding Kamal Ahmed. The minister added: “This agreement, in step with the other development projects taking place as part of the USD 1.1 billion Airport Modernisation Programme, also marks the launch of the Group’s strategy to leverage BAS’s ground handling expertise to expand its business regionally and internationally.”

Kamal Ahmed and BAS Board of Directors Chairman Mohammed Jalal signed the agreement during the second day of the Bahrain International Airshow (BIAS) 2018. In attendance were officials from BAS and Bahrain Airport Company (BAC).

The increase is in line with heads of terms agreement, signed by BAC Chief Executive Officer Mohamed Yousif Al-Binfalah and BAS Chief Executive Officer Salman Al-Mahmeed, which will see BAS remain Bahrain International Airport’s (BIA) ground handling agent for passengers, luggage, aircraft, and catering services until at least 2034. The agreement is aimed at developing the overall level of service at BIA and ensuring all ground handling operations adhere to international standards.