Gulf Air reduces losses by 88%

Losses fell from BHD62.7 million (USD166.3 million) in 2014 to BHD24.1 million in 2015, a 62% reduction in one year.

 

“2015 delivered the fruits of Gulf Air’s ongoing holistic business strategy, implemented since the airline’s 2013 restructuring. The airline’s losses in 2012 were BHD196 million and this has fallen, by 2015, by 88% - no mean feat,” said H.E. Shaikh Khalid bin Abdulla Al Khalifa, deputy Prime Minister and chairman of Board of Directors, Gulf Air.

 

“We are further stabilising and strengthening the business in both the short and long term and this has been achievable primarily through the continued dedication and ability of all members of the Gulf Air family,” said Maher Salman Al Musallam, chief executive officer, Gulf Air.

 

The carrier has focused on improving performance and operational results, and has achieved an on time performance of 89%, extended its network to 44 destinations and strategised its fleet capability to cater to its growth.

 

The carrier has moved towards commercial sustainability, and its annual national budget allocation has supported its strategic development.