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FINANCIAL NEWS
Bahrain’s Gulf Air cuts losses to USD166.2m in 2014
15 Sep 2015
(MENAFN) Bahrain’s national carrier Gulf Air announced its 2014 financial and operational results, saying that it had cut its losses by more than 32 percent to USD166.2 million in the past year.
The carrier said it continued to “strategically shift from low-value transit traffic through Bahrain to high-yield, high-demand, point-to-point routes” focused largely on the MENA region.
In a statement, the national cargo added that it was better utilizing its existing assets to push the business forward, resulting in a 15.4 percent rise in total revenue.
The statement said that since Gulf Air’s 2013 restructuring, the carrier’s financial trajectory remained “on a positive upswing reflected by its consistently falling losses”.
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