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%.