Bahrain Air Doubles Authorized Capital to BD 20 Million to Buy New Aircraft.
Monday, 15 September 2008
The airline company Bahrain Air stated on Saturday that it has doubled
its authorized capital from BD 10 million to BD 20 million for the
purpose of financing the purchase of six Airbus A320 aircraft.
Source: Press Release (Bahrain Air)
According to a statement by the company, the shareholders have approved to increase the paid capital from BD 9 million to BD 18 million in last week's meeting.
The company proposed buying the six small sized Airbus A320 aircraft, worth $ 400 million according to the listed prices, last month.
Chairman Sheikh Mohamed B. Abdulla Al Khalifa said that the meeting was attended by all shareholders from Bahrain and Saudi Arabia who endorsed the recommendation for increasing the capital.