Saudi Gazette - Gulf Air’s restructuring cuts losses 50%:
"Gulf Air, the national carrier of Bahrain, said Saturday that its restructuring strategy was on track following a robust financial and operational performance in the first half of the year, ending June 2013.
In the first two quarters of 2013, Gulf Air reduced its overall losses by over 50 percent compared to the same period in 2012. This achievement was realized primarily through a 26 percent reduction in year-on-year costs across the organization and bolstered by sound revenue results aided by a second quarter yield increase of over 6 percent.
Gulf Air performed 15 percent ahead of its financial target in the first six months of the year. It expects to realize additional improvements as it continues to remove excess operational cost from the organization and renegotiate contracts. — SG/Agencies"
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