Gulf Air announces H1 performance
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Gulf Air reported a strong fiscal and operational performance for the first half of the year. The airline has reduced its year-on-year losses by over 30%.
In the first two quarters of 2014, the airline increased its overall revenue by 10% compared to 2013. This was realised through an enhanced revenue stream driven by augmented operations, improved load factors and increased connecting traffic.
HE Shaikh Khalid bin Abdulla Al Khalifa, deputy prime minister and chairman of Gulf Air’s Board of Directors said: “These positive half year results show that Gulf Air is continuing on a positive trajectory to become an efficient, commercially sustainable business and an integral part of the Kingdom of Bahrain’s local economy.”
Going forward, and in light of the airline’s positive half year financial and operational results, Bahrain’s national carrier is well positioned to not only address the coming challenges but nurture the airline’s long term future growth. The airline’s 2014 target is to continue on its path towards long-term sustainability, further cutting its losses. This will be achieved through further reducing operational costs, increasing sales efficiency and focusing on customer needs.
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