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Gulf Air cuts losses by 50%
- Bahrain: Wednesday, April 24 - 2013 at 03:54
Bahrain's Gulf Air has said it has narrowed its overall losses by around 50% in the first quarter of the 2013 over the same period a year ago, Gulf News has reported. "This was realised principally through a 21% fall in year-on-year expenditure driven by reductions in aircraft leasing fees, flight-related charges and staff expenses in addition to the closure of loss-making routes," Gulf Air said. Additionally, passenger yield grew 21% in the quarter, compared with the first quarter of 2012, it said. "The increase coincides with the successful realignment of the airline's network and fleet, a stronger traffic demand in the region and significantly higher sales in Bahrain," the Manama-based carrier said.
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