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Sun 24 Jan 2010 09:11 PM

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Gulf Air sells Airbus planes to US Apollo Aviation

Sale is part of airline's strategy to shift focus back to regional traffic.

Bahrain's state owned carrier Gulf Air has sold two Airbus A340 aircraft to US based Apollo Aviation Group as part of efforts to realign its fleet to a new strategy focusing on regional routes.

Gulf Air said in a statement, in which it did not disclose the transaction's terms, that the two aircraft were 16 years old and had no longer been in service.

It said it saved $25 million in investments needed to return the two aircraft to service.

The loss making carrier plans to shift its order book from wide body to narrow body planes and regional jets as it changes its route network to focus on regional traffic. (Reuters)

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