The Foundation Treaty was signed on 1 January 1974 and gave each government a 25% shareholding in the rebranded "Gulf Air", which became the flag carrier for the four states.
The Foundation Treaty was signed on 1 January 1974, which became the flag carrier for the four states. The Foundation Treaty gave each government a 25% shareholding. This 25% shareholding was in the rebranded "Gulf Air". A 25% shareholding in the rebranded "Gulf Air" became the flag carrier for the four states.