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Gulf Air reduces costs by 12%

Gulf Air has posted BD25.5m ($67.62m) in cost savings last year, following the adoption of several restructuring initiatives, Gulf Daily News has reported. The savings were the result of a new business strategy implemented since 2010, that yielded positive results in terms of cost-control, cost-efficiency, expenditure reduction and manpower optimisation, said chief executive Samer Majali. Costs were reduced by 12%, while revenue of BD405m was generated in the last financial year, he added.