The Bahrain-based carrier has amended its Boeing order to include 12-16 787 Dreamliners instead of the 24 it had originally ordered. In addition it has pushed back the introduction of eight A320ceo and A320neo aircraft to the end of the decade.
Samer Majali, CEO of Gulf Air said the cutbacks would save the airline US2.5 billion (GBP1.57bn).
“As long-standing trade partners, Airbus and Boeing have understood our challenges and I am delighted that we have arrived at mutually agreeable solutions in-line with the Government directive to put the airline firmly on a path towards sustainability,” he added. “The revised orders reduce our long-term financial liability of approximately GBP314bn by over 50% and the remaining liability more effectively meets Gulf Air’s future fleet replacement and/or growth requirement.”