Timely take-off

Manama : Gulf Air announced yesterday its 2015 financial and operational results, revealing a fall of almost BD40 million in its annual losses from BD62.7 million in 2014 to BD24.1 million in 2015 – equivalent to a landmark 62pc reduction.

Expressing his delight at the results of the Kingdom of Bahrain’s national carrier, Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of Gulf Air’s Board of Directors, said: “The year 2015 delivered the fruits of Gulf Air’s ongoing holistic business strategy, implemented since the airline’s 2013 restructuring. The airline’s losses in 2012 were BD196 million. This has fallen, by 2015, by 88pc.”

“With an improved performance, an increasingly positive financial trajectory for our national carrier and consistently falling losses, Gulf Air’s positive 2015 developments are visible across a broad spectrum of deliverables,” he added.

Gulf Air Chief Executive Officer Maher Salman Al Musallam said, “We are further stabilising and strengthening the business in both the short and long term. As we successfully eradicate legacy debts, Gulf Air is further enabled to manage its controlled future growth.” “Today, our controlled future growth and expansion capabilities are considerable and being carefully planned by the airline’s management team and Board of Directors.” 

Its commitment to operating to the highest global safety standards saw it successfully complete its biennial IATA Operational Safety Audit (IOSA), keeping the airline on the IOSA registry until May 2017, stated a press release.