Gulf Air’s new Boeing, Airbus fleet orders total $7.6 billion

Gulf Air, Bahrain’s national carrier, has announced restructured orders of 45 aircraft with Boeing and Airbus in deals, worth a combined total of $7.6 billion. The orders consist of 16 Boeing 787-9 Dreamliners, 17 Airbus A321neo and 12 Airbus A320neo aircraft. The deliveries of these aircraft will start in the second quarter of 2018, the company said.

The orders follow extensive negotiations with both aircraft manufacturers to revise Gulf Air’s previous orders with Boeing and Airbus. The restructured orders will simplify Gulf Air’s future wide-body fleet to Boeing 787-9 Dreamliners and ensure its future narrow-body fleet will largely focus on A320 neo Family aircraft. These orders provide Gulf Air with the requisite expansion capabilities for the airline’s extensively studied future network requirements, ensures it maintains one of the youngest fleets in the region while building upon its award-winning reliability and on time performance.

“As long-standing partners, Boeing and Airbus have understood the challenges faced by Gulf Air and embraced our future looking strategy,” Gulf Air Chief Executive Officer Maher Salman Al Musallam said. “I am delighted that we have arrived at mutually agreeable solutions to restructure our previous orders with aircraft that are more fuel-efficient, modernised, reliable and which, at the same time, allows Gulf Air to operate our wide and narrow-body fleet at lower operating costs. This is in line with our mission to put the airline firmly on a path towards long-term commercial sustainability.”

The revised and consolidated orders are based on comprehensive current and future network studies and satisfy Gulf Air’s future network expansion plans and fleet requirement, Al Musallam said at a conference on the first day of the Bahrain International Airshow 2016.

“As a result, I now look forward to furthering Gulf Air’s fleet modernisation process and supporting our network and overall passenger experience enhancement strategies; the airline’s future looks increasingly promising,” he said.

Marty Bentrott, Vice President – Sales, Middle East, Russia and Central Asia, Boeing Commercial Airplanes said: “As Gulf Air modernises and expands its operations, Boeing is proud that the 787 will be an integral part of the airline’s fleet strategy and the flagship for its long-haul, international operations.

“The industry leading efficiencies of the 787 family will provide Gulf Air with superior fuel conservation, reliability and passenger comfort and we look forward to continuing our strong partnership.”

Fabrice Brégier, Airbus President and Chief Executive Officer, said: “We are pleased that Gulf Air has chosen the A320neo Family to complement its long-term growth strategy.The fuel efficient aircraft will provide the airline with a higher operational efficiency and profitability while its wider cabins will open a new dimension of passenger appeal.”

Gulf Air continues to rationalise its operations in its mission to realise commercial sustainability. Progressively improving business results have reduced the airline’s financial losses by approximately 85 per cent since 2012.