We lost what - 100 million BD last year ($300 million US). The ONLY change that has occurred is that GF has cancelled a few routes (DUB was doing well apparantly and building nicely). The cost to those routes has been accounted for already so by dumping them (DUB specifically) you lose. The cost to keeping it would have been minimal - hell it might have started making something.
We have 3 or 4 'spare' airplanes in a fleet of 30!!??? Yes, it saves OTP but MAN- that is an expensive method to ensuring reliability!!!! Show me an airline anywhere that has 10% of its fleet as spares!
SO the next year will show big losses again. Even by shedding 1000 jobs how much do you save. Lets assume they are all paid 1000BD month and we know in reality those wages are lower - but lets be conservative. That saves 1 million BD/ month or 12 million a year. 10% of last years loss. So, the big move to reduce staff will come no where near saving the losses.
No direction from the board (or government), can't attract a world class CEO with experience, a good portion of the managerial experience has left the building (making the new managers jobs more difficult) etc etc etc
Now Bahrain has to absorb ALL of the loss. Is the political will there to loss 100 million BD????? I doubt it. SO that means BIG change and, likely, change that will not be pilot/company friendly.
Go public??? Mot unless they cook the books or consolidate to a degree that hey have a hope of eeking out a minor profit.
My guess is the company will consolidate further. There best hope is to MINIMIZE losses since competing in the ME and making money is IMPOSSIBLE in the current climate.
Pilots will still have their jobs I have no doubt. It is just that GF will not be an attractive career - imo.
PS. if the recent raises show on the company books, instead of Muntelekat, the loss wil be even bigger!!!!