Business Round-Up
Gulf Air cuts losses
October 1st 2014
Bahrain’s Gulf Air has cut its first-half 2014 losses “by more than 30%” compared to the same period a year ago, the airline said. Read More »
The better figures are the result of a major restructuring programme that has seen Gulf Air concentrate on high-demand, high-yield, regional point-to-point routes primarily aimed at the Gulf region’s business community. Simultaneously, the carrier’s long-haul network has been reduced to focus on a number of profitable trunk routes to feed its expanded short-haul network.
Gulf Air is a state-owned enterprise and under Bahraini law this exempts it from divulging actual figures.
Kamal Bin Ahmed, Minister of Transport and Chairman of Gulf Air’s Board Executive Committee said: “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.”
