Gulf Air’s strong summer demand delivers positive results in Aug-2014

Gulf Air stated (20-Sep-2014) it realised an almost break-even after reporting an operating loss of BHD42,000 (USD111,376) and a net loss of BHD200,000 (USD530,363) in Aug-2014, following record summer travel demand. In addition to the improved financial results, the carrier also recorded a higher load factor while also delivering a 25% year-on-year growth in revenue. Acting CEO Maher Salman Al Musallam commented, "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." Looking ahead Gulf Air anticipates further positive developments during FY2014 bringing the carrier closer to achieving a positive bottom line performance. [more - original PR]