Gulf Air Group announced the signing of a strategic partnership agreement with Mazad, Bahrain’s digital auction platform, under which Mazad will exclusively manage auctions of the movable assets the Group decides to offer for sale.
The announcement was
made during Gateway Gulf 2026.
The partnership supports Gulf Air Group’s
transformation programme by enabling the Group to reach buyers with a specific
interest in each asset offered for sale, broadening competition for every sale
and improving the return the Group achieves from it.
Under the agreement, Gulf Air Group
determines which assets to offer for sale and sets the terms of each sale,
while Mazad advertises and manages each auction through its digital platform,
making the terms available to bidders before they participate.
This clear division of
responsibilities strengthens the governance of sales, while publishing the
terms in advance allows bidders to participate on a clear and equal basis.
The partnership enables Gulf Air Group to
benefit from Mazad’s digital platform and its experience in managing auctions
since its establishment in 2017.
The model is not limited to Bahrain, as
future auctions can be marketed to buyers across regional markets,
depending on the nature of each asset and the markets where demand for it is
strongest.
Fahad Mohamed Almudhahka, Chief Corporate
Affairs Officer of Gulf Air Group, said: “Our partnership with Mazad is part of
Gulf Air Group’s transformation programme, which places particular emphasis on
strengthening governance and transparency in how we manage
our assets. Through this partnership, we bring the assets we choose to sell to auction
under clear rules that promote fair competition and help us achieve the best
possible return.”
Nezar Habib, Chief Executive Officer of
Mazad, said: “Gulf Air Group’s assets are specialised, and reaching the right
buyers lies at the heart of Mazad’s value proposition and what our platform was
built to do. We look forward to leveraging our expertise and capabilities in
auction management to maximise the market value of the Group’s assets and
expand opportunities to reach potential buyers across Bahrain and the wider
region. Through transparent and professionally managed auctions, we aim to
ensure equal opportunities for all participants while responding to evolving
market demands and expectations.” -TradeArabia News Service