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FINANCIAL NEWS
Bahrain’s Gulf Air to cut further 15% of its costs in 2012
09 Jul 2012
(MENAFN) Bahraini state-backed Gulf Air unveiled plans to cut further 15 percent of its costs this year after the airline achieved positive results of its restructuring scheme started in 2010, Arabian Business reported.
The national carrier said it made USD82.76 million from its aggressive cost-savings strategy.
During 2010-2011, Gulf Air reduced its costs by 12 percent, helped by USD1.04 billion revenue for the period.
In June, the airline has said it was insourcing fleet management as part of its effort to cut costs, adding that the plan would bring cost-savings and operational benefits for the airline.
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