Gulf International Services (GIS) - the umbrella organisation of Gulf Drilling International, Gulf Helicopters, Al Koot and Amwaj - is in continuous discussion with different key stakeholders to restructure its debt. Highlighting that the current levels of debt continue to weigh on the group's net earnings, the company said finance cost is one of the key cost elements, and specifically limits the drilling segment’s ability to accomplish its desired profitability. "GIS management is in continuous discussion with different key stakeholders to restructure the debt with an aim to provide greater flexibility to manage liquidity and ease pressure on the group’s financial position," it said, highl
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