By AVB Staff
Carrier says it posted net loss of more than $530,000 during month; says revenue is up 25%
Bahrain’s Gulf Air recorded its best August financial results since 2004, after posting an operating loss of $111,702 (BD42,000) and a net loss of $531,915.47 (BD200,000) for the month.
The carrier also recorded a higher seat factor, while also delivering 25 percent higher revenue than last year, it announced through a statement.
“We see signs that our strategy is enhancing bottom-line performance and our national carrier’s positive performance, in conjunction with high travel demand, has delivered strong August results that mark a significant milestone in the airline’s history.
"These results are a dramatic improvement on earlier performance over the past ten years or more and a reflection of the ongoing efforts, commitment and drive of each member of the Gulf Air family. Month by month we are continuing to improve, continuing to strengthen and continuing to transform our airline,” said Maher Salman AlMusallam, Gulf Air’s acting chief executive officer.
The airline enhanced it network in June of this year with the resumption of operations to Athens and permanent schedule increases on flights between Bahrain and Cairo (from 10 to 12 flights per week) and between Bahrain and Kuwait (from 40 to 42 flights per week).