Gulf Air is all set move back into profitability next year

ABU DHABI - Gulf Air, the airline of Bahrain, Oman and Abu Dhabi is all set, as planned, to move back into profitability next year.

By A Staff Reporter

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Published: Sun 8 Feb 2004, 12:10 PM

Last updated: Thu 2 Apr 2015, 11:50 AM

Addressing Gulf Air's worldwide sales and marketing conference at the Beach Rotana Hotel in the capital yesterday, President and Chief Executive of the airline James Hogan said: What we have achieved over the last year and a half as a team has been remarkable by any standards; a fact recognised recently by the award of the prestigious Airline Turnaround of the Year Award by the Centre for Asia Pacific Aviation.

Mr. Hogan said: "Gulf Air languished for a number of years, watching while neighbouring airlines flourished. But over the past year and a half, it has again become an airline to be reckoned with, and a market leader. Mr. Hogan highlighted a long list of successes for the airline during the year gone by, which helped it win the award and more importantly move closer to profitability. The factors included passenger revenue increasing by 17 per cent, cargo revenue up 16 per cent, unit costs down nine per cent, a third quarter record of 1.8 million passengers carried, First and Business class passengers to Europe up over 30 per cent and Gulf Air holiday packages up 48 per cent and on-time performance targets achieved.

A wide range of initiatives was evidenced last year, including the introduction of Gulf Traveller, the region's first all-economy, full-service airline operating out of Abu Dhabi, the service surpassing all expectations in terms of passenger levels and profitability, Mr. Hogan said. "Confidence is central to a winning culture. People who believe in themselves and what they do are winners. If we believe in Gulf Air, we will win, and if we want to be different, we can be," he said.

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