Gulf Air release first-half operational results

The 2014 half year results further strengthen Gulf Air’s position as a key national infrastructure asset that provides essential business links for the Kingdom of Bahrain’s wider economic development. 

In the first two quarters of 2014, Gulf Air increased its overall revenue by 10% compared to the same period in 2013. This was realised principally through an enhanced revenue stream that was driven by augmented operations, improved load factors and increased connecting traffic. 

Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of Gulf Air’s Board of Directors said: “The first two quarters of 2014 have been critical in the national carrier’s recent, post-restructuring development. These positive half year results show that Gulf Air is continuing on a positive trajectory to become an efficient, commercially sustainable business and an integral part of the Kingdom of Bahrain’s local economy.” 

With a focus on high-demand and high-yield point-to-point routes that connect Bahraini businesses with regional markets, the first half of 2014 saw Gulf Air continue to strengthen its Middle East and North Africa (MENA) operations while maintaining strategic links to select points in Europe, the Far East, India and Pakistan. During this period the national carrier commenced services to its fifth destination in Pakistan – Sialkot, recommenced flights to the Iranian capital Tehran and the Greek capital Athens. Additionally, the airline increased frequencies to Mashhad to now operate daily flights between Bahrain and the Iranian city. Recognizing additional capacity opportunities regionally, the airline’s management team also initiated discussions during the first half of 2014 with various Civil Aviation Authorities to request further additional frequencies across its network. The airline’s ongoing network refinement was partially responsible for its strong performance during the first six months of 2014, delivering a seat factor, revenue passenger count and passenger yield that were all improvements on that achieved in the first half of 2013. This was all further supplemented by the airline’s strong on time punctuality results.

Kamal Bin Ahmed, Minister of Transport and Chairman of Gulf Air’s Board Executive Committee stated: “We are pleased with these strong first half results, which are evidence of the on-going fiscal and operational improvements being made across the business. These early results are fully in line with our expectations as we continue to further strengthen the position of Bahrain’s national carrier. To date, much has been achieved and we look forward to continuing this progress for the rest of 2014.”