Gulf Air restructuring strategy results in profits

Gulf Air restructuring strategy results in profits

Airline’s operating results surpass target by 24%

Airline’s operating results surpass target by 24%

HE Shaikh Khalid bin Abdulla Al Khalifa
HE Shaikh Khalid bin Abdulla Al Khalifa

Cost efficiencies, optimised capacity management and strategized restructuring has resulted in Gulf Air’s positive third quarter of 2013. The airline’s operating results were 24% better than predicted for July – September. This resulted in an overall year-on-year reduction in the airline’s losses to over 50%.

“The restructuring continues to gain momentum,” said the airline’s chairman HE Shaikh Khalid bin Abdulla Al Khalifa.  “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.”

Year-on-year the airline reduced its expenses by nearly 30% across operational and maintenance costs as well as a reduction in manpower, in-line with requirements of the revised fleet and network. Year-to-date, Gulf Air has realised a total workforce reduction of 27%.

Gary Marshall
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Gary Marshall
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