Gudabia Palace: Gulf Air, the national carrier of Bahrain, has managed to reduce 68% of its losses in past two years in line with the directives of the board of directors led by the Deputy Premier Shaikh Khalid bin Abdulla.
The Minister Transportation and Communication, Kamal Bin Ahmed told the post Cabinet briefing that the airline emerged more efficient and productive in the past 24 months, thanks to the new impetus on making it viable airline.
Since the new approach, the Minister said, Gulf Air managed to save BD250 million in addition to bringing radical changes in its business model which includes cost saving.
“Gulf Air is covering 45 destinations with a fleet of 28 aircrafts, which almost 40% efficient when compared with the fleet of 40 planes and covering the same number of destinations.
The Minister said since September 2012, when the new board was constituted led by the Deputy Premier, the airline has emerged stronger with promising future despite a slim size of 1800 employees.
Gulf Air had been facing recurring financial losses in past 20 years in pre 2012 new board with only two year in those two decades of some profits. The new executive committee, which also has four ministers as member, has helped the airline to again come on its feet despite tough competition in the market.
Earlier, the cabinet also reviewed the performance of Gulf Air, the national carrier, at the financial and operational levels over the past eight years following its restructuring.