Gulf Air losses down 62% in 2015

Gulf Air reported (08-Jun-2016) its losses decreased 62% year-on-year to BHD24.1 million (USD63.9 million) in 2015. The airline reduced losses by 88% since 2012. The carrier expanded its network to 44 destinations, enhanced its fleet product and recorded average on time performance of 89% in 2015. Gulf Air CEO Maher Salman Al Musallam said the airline is stabilising and strengthening its business in the short and long-term and eradicating legacy debts. Bahrain's Deputy PM and Gulf Air chairman Shaikh Khalid bin Abdulla Al Khalifa said: "I am delighted with these results. 2015 delivered the fruits of Gulf Air's ongoing holistic business strategy, implemented since the airline's 2013 restructuring." The airline plans to undertake "positive and controlled growth" and invest in improving its passenger experience in 2016 and beyond. [more - original PR - English/Arabic]