New Year boost for Gulf Air

Gulf Air ... Flying high

Gulf Air received one of the best possible indicators that it was on the road to recovery with the revelation that more than six million revenue passengers had flown with the airline in 2003.

This was the highest number ever carried in a single financial year.
The figures revealed that over half a million more passengers flew with Gulf Air compared to 2002 an increase of more than 10 per cent, while the six million figure showed nearly wo millions increase on ten years ago.
James Hogan, president and chief executive of Gulf Air said that the re-shaping of the airline had been conducted with one single goal in mind and that was to provide the best possible benefits to the customer. “The true judges of whether we are on the right track with our restructuring programme are our passengers,” he said.
“They certainly have given us a vote of confidence during 2003 and we aim to ensure they continue to fly with us with a programme of continuous improvements to products and services in 2004.”
The record figure is even more significant against the backdrop of one of the most difficult years in the global aviation industry and increased local competition.
2003 has seen a reduction in Gulf Air losses from BD40.6 million to around BD20 million, and this year Gulf Air will break even, achieving profitability in 2005. Aircraft financing debts have also decreased significantly.