GF to increase fleet by 10pc
A Gulf Air delegation has returned from London, where aircraft leasing agreements were concluded to increase the present fleet by 10 per cent.Explaining Gulf Air's most recent acquisition, president and chief executive, James Hogan said: "The airline has entered into agreements to lease an additional three aircraft. This initiative will meet and support the current requirements of our network, which is being planned around the provision of daily frequencies to key destinations." This follows the signing of a letter of intent to lease two Airbus wide-bodied A340-300 aircraft. Scheduled to enter service during the summer on existing long haul routes, and later on the recently announced Australian sector, the addition of the two new aircraft brings the total of A340s to seven. Gulf Air is also to take delivery of a further Airbus A320 following the conclusion of a leasing agreement earlier this month. The aircraft will enter service in July serving short and medium haul routes on the airline's expanding network. "The decline in worldwide travel and its negative knock-on effect on aircraft manufacturers, has created a very favourable buyers' market.We have more choice and leverage than we might have had in the past," said Hogan. "We are however committed to a 10-year fleet expansion program and will base all decisions on the requirements and criteria of the network, matching what we require with the best available options in the market."