Gulf Air Posts Best Results since 2004

Manama 

 Gulf Air has posted its 2014 financial and operational results, which reflects a fall in annual losses from BHD93.3 million in 2013 to BHD62.7m in 2014 – equivalent to a 32.8 per cent reduction. 

Commenting on the airline’s ongoing positive development in 2014, Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of Gulf Air’s Board of Directors said, “Gulf Air’s 2014 performance reflects a steady and continued improvement in its financial and operational business with targeted efforts to maintaining the airline’s strategic direction that ultimately encouraged solid customer growth, enhanced global bookings and a resultant marked improvement in financial and operational results – all over the previous year and with the support and direction received across both the operational and administrative level.” 

The airline, in 2014, continued to strategically shift from low-value transit traffic through Bahrain to high-yield, high-demand, point-to-point routes focused largely on the MENA region while, in tandem, better utilizing its existing assets to push the business forward. As a result Gulf Air witnessed, over the course of the year, a 15.4pc rise in total revenue passengers.

On the network front, 2014 saw Gulf Air maintain its leadership position in the Middle East by operating one of the largest regional networks while balancing its regional stronghold with strategic global links extending to 41 destinationsby the end of 2014. Gulf Air’s network in 2014 saw landmark growth with flights launched to 06 destinations in all of Europe, the Indian Subcontinent and the Middle East. 

Commenting on the airline’s 2014 progress, Gulf Air Acting Chief Executive Officer, Maher Salman Al Musallam said: “Reducing our budget requirement doesn’t just involve cutting costs and saving money, it involves a strategic 360 assessment of our business that includes looking into how we can best nurture and develop our operations, technical capabilities, network, fleet, product, workforce, customers and more. We are working towards all of this and I am delighted with our progress to date.”

Operationally, 2014 saw Gulf Air’s on-time-punctuality results position the airline as one of the global leaders in on-time-punctuality, with an average annual on-time-performance of 89pc. 

On the technical front, the national carrier completed its first insourced Airbus A330 18-Month Check at the airline’s base maintenance facility. Channeling its strong in-house technical expertise and further building Bahraini, home-grown engineering skills and capabilities, Gulf Air is moving towards establishing a robust aircraft maintenance system and this most recent development delivered important cost savings while preserving the quality of aircraft servicing.