Gulf Air is a Bahrain-based airline that provides scheduled air transportation services for passengers and cargo.

Gulf Air went through numerous changes in its shareholder structure since it was established in 1950 as the Gulf Aviation Company. The British Overseas Aircraft Corporation (BOAC) held the majority of shares in the company until 1974, when the Abu Dhabi, Bahrain, Oman, and Qatar governments purchased BOAC’s shares.

The Qatari Government withdrew from its partnership in Gulf Air in 2002 to focus on developing its national carrier Qatar AirwaysQatar Airways. The Government of Abu Dhabi followed by pulling out in September 2005 to focus on its official carrier Etihad AirwaysEtihad Airways. Oman’s government remained a shareholder of Gulf Air, in spite of the conflict of interests it had with its national carrier Oman AirOman Air, until 2007. The Bahraini government, which by default became the sole shareholder in Gulf Air, later transferred its full ownership in Gulf Air to its sovereign wealth fund Mumtalakat.

Gulf Air carried 7.3 million passengers and handled 30,800 tons of cargo in 2007. It owns 40 aircrafts and flies to 36 destinations, as of July 2008.

Gulf Air holds shares in Bahrain Airport ServicesBahrain Airport Services, a company that provides airport and aircraft ground handling and maintenance services as well as catering services. Gulf Hotels GroupGulf Hotels Group is also one of Gulf Air’s subsidiaries, it owns and operates hotels.

Gulf Air had an estimated daily loss of USD1 million by the end of 2006. The airline expanded its fleet size in 2008 by committing BHD2.26 billion (USD6 billion) to add 16 Boeing-787 aircrafts and BHD1.89 billion (USD5 billion) for 35 Airbus A330 aircrafts.