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FINANCIAL NEWS
Gulf Air’s restructuring pays off
28 Jul 2013
(MENAFN) Bahraini carrier, Gulf Air, reported its best half-year results. The company is going through a restructuring plan since the beginning of the year, reported Times of Oman.
The airline company was able to reduce losses in the six months ending in June 30 compared to the same period last year by 50 percent, a 26 percent decrease in year-on-year expenses. Also, earnings went up by 6 percent in Q2.
“Gulf Air’s restructuring is firmly on track, strengthening the airline’s position as a key national infrastructure asset and supporting the Kingdom’s evolving business needs,” chairman of the carrier’s board of directors Shaikh Khalid bin Abdulla Al Khalifa said.
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