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FINANCIAL NEWS
Gulf Air’s losses cut 50 percent in Q3
26 Nov 2013
(MENAFN) Gulf Air, a Bahraini-based carrier, said that the company’s losses in the July-September period of this year were cut by over 50 percent, Arabian Business reported.
The carrier’s operating results in the period were 24 percent better than expected. The airline reduced its workforce by 27 percent in the year to the end of September.
“The results speak for themselves, the airline is now in a much stronger position than it was a year ago and remains on-track towards achieving the financial and operational goals of the restructuring strategy,” Gulf Air chairman said.
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