Gulf Air CEO Samer Majali stated the carrier is unlikely to achieve its target of break-even by the end of 2012 (Arabian Business, 06-Jul-2011). Passenger bookings in the first five months of 2011 were down 25%. The CEO hopes that the carrier will break even in early to mid-2013. Mr Malaji has also not ruled out further job cuts, although it will not repeat the “major redundancies” of 2009 and 2010. The carrier has shed around 1500 staff over the past 18-20 months.
Gulf Air unlikely to meet 2012 break-even target
7-Jul-2011 12:15 PM