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Gulf Air annual loss down 52 percent in H1

31 Aug 2014

(MENAFN) Bahraini Gulf Air announced a 52 percent decrease in annual losses and a financial performance that exceeded the airline’s restructuring target by USD38.4 million, Arabian Business reported.

The carrier said losses have fallen by USD265m compared to last year as well as achieving a 28 percent of cost savings.

Gulf Air also said that these results are considered to be the company’s strongest in eight years but that it had to reduce its workforce by 27 percent in order to do so.

Meanwhile, the company announced a number of new destinations on its network such as Al Maktoum International Airport in Dubai, Thiruvananthapuram in India, Mashhad and Tehran in Iran, Sialkot in Pakistan, and Athens in Greece as well as launching of flights to Moscow in October.

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