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05-Oct-2014 5:00 AM

Gulf Air ready to turn a corner after latest restructuring. Proposes aviation asset consolidation

Analysis

Gulf Air's latest round of restructuring continues to produce results ahead of its original targets. Without releasing figures, the airline reported a 30% year-on-year net reduction in losses for 1H2014, significantly bettering its target of 12%.

The airline is now 18 months into its latest round of restructuring, its fourth in a little more than a decade, but is finally emerging as a leaner and more appropriately structured carrier.

Improving operational and financial results show promise for the struggling airline. Operating costs declined 28% in the first half of the year and operational indicators have continued their sustained improvement.

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