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Gulf Air says restructuring paying off
- Bahrain: Wednesday, February 27 - 2013 at 02:00
Gulf Air has said its workforce has been cut by 15% as part of the restructuring strategy the airline announced last December. "Despite a difficult operating environment, the restructuring measures have started yielding results and the strategy remains on track to achieve overall cost savings of 24% by the end of 2013," said the airline's chairman, Sheikh Khalid bin Abdulla Al Khalifa. Overall losses dropped in January by over 34% compared with the same month a year ago, while passenger revenue saw a 9.6% increase against its budgeted revenue, the chairman said. "Gulf Air is expecting to complete its network realignment by March 2013. It will continue to strengthen its regional markets offering flexible and multiple flight options while providing strategic links to selected European, Far East and India markets," he added.
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