Gulf Air [GULF.UL] launches budget airline ABU DHABI, (Reuters) - Troubled regional carrier Gulf Air launched a new budget airline on Sunday as part of a plan to return to profitability after years of losses. Gulf Air President and Chief Executive James Hogan told a news conference after the launch in Abu Dhabi emirate in the United Arab Emirates that the all-economy-class subsidiary airline, Gulf Traveller, would cater to regional travellers. Millions of expatriates, mostly from the Indian subcontinent, live in the oil-rich Gulf Arab states. The airline, based in Abu Dhabi, would be financed and operated by the parent company. It is currently operating six Boeing 767-300 aircraft and would serve routes in Gulf Arab states as well as Nepal, Pakistan, Bangladesh, India, Sri Lanka and Tanzania. Gulf Air has said it plans to double its fleet to 60 aircraft by 2009 but would not consider buying new planes before 2005. It is in discussions with Boeing Co, Airbus , Embraer Owner states Bahrain, Oman and Abu Dhabi agreed in December to inject $238.7 million into Gulf Air over two years after pumping $81.7 million into the debt-ridden airline in May 2002 after Qatar, another part-owner, pulled out of the company. *************************************************** The owner of Roger's Trinbago Site/TnTisland.com Roj (Roger James) escape email mailto:ejames@xxxxxxxxx Trinbago site: www.tntisland.com Carib Brass Ctn site www.tntisland.com/caribbeanbrassconnection/ Steel Expressions www.mts.net/~ejames/se/ Mas Site: www.tntisland.com/tntrecords/mas2003/ Site of the Week: http://www.carib-link.net/naparima/naps.html TnT Webdirectory: http://search.co.tt *********************************************************