Gulf Air to Break Even in 2012

21.08.2010 Aviation
Gulf Air to Break Even in 2012

Gulf Air to Break Even in 2012

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Gulf Air expects to cut last year's $500 million loss to $300 million this year, half that next year and be in a manageable situation by 2012.
In spite of fuel prices rising by 33% in the past 7 months compared with a year ago, costing Bahrain's national carrier BD21 million ($55.7 million), the airline is on course with a programme of cutting costs, increasing routes and getting on target to get closer to break even, according to Chief Executive Officer Samer Majali.
Majali  told Gulf Daily News that in the past year the company managed to reduce staff by some 1,000, representing about 20% of the total, while expanding the business. "We are competing with 3 mega carriers in the region (Emirates, Etihad, and Qatar Airways) and are trying to find our own niche. We have the biggest network in the region, the largest number of flights, and the largest number of destinations.
"We now have fewer long-term destinations, having cut some India flights, but we have more short-term destinations.
He added that the Gulf Air recently added Bahraini cabin crew to its staff : "About 65% of our upper and middle management are Bahraini, 53% of our staff in the kingdom are Bahraini and, globally, we have 45% locals".
 
 



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