newswatcher
5th Nov 2003, 15:51
As reported in the UAE Gulf News(5/11/03):
"Gulf Air is adding three more A340 aircraft by next June, taking the fleet total to 36 as the airline reduces its losses and is on track to break even by next year. Moreover, the three owner-states are injecting 45 million Bahraini dinars in December after which the airline will not seek any further cash injection.
"We are adding three more aircraft, all Airbus A340s, on operating lease. Delivery of the first took place in Abu Dhabi this week. Delivery of the second will be in March 2004, and delivery of the third will be in June 2004. Our fleet will increase from 33 to 36 next year," said James Hogan, president and chief executive, Gulf Air.
Earlier, Ahmed Al Hammadi, vice-president — finance, said the turnaround of the airline is due to the strong support from the owner states who injected 45 million dinars in January this year.
"Another 45 million dinars will be injected in December this year. We will not ask for any more cash injection," he said.
"Gulf Air will break even in 2004 and we are on target to reduce losses to 20 million dinars by end-2003," he said, adding that up to September this year, losses had been brought down to 18.4 million dinars.
Gulf Air's no-frills Gulf Traveller has clocked a 74.9 per cent average passenger load factor in the five months it has been operational. "Gulf Traveller flies to 17 destinations currently and we plan to increase destinations next year," he said.
Hogan confirmed the airline is still in dialogue to join a global airline alliance. "Because of what happened in the aviation world, things are delayed. But we are in talks to join an alliance," he said.
"Gulf Air is adding three more A340 aircraft by next June, taking the fleet total to 36 as the airline reduces its losses and is on track to break even by next year. Moreover, the three owner-states are injecting 45 million Bahraini dinars in December after which the airline will not seek any further cash injection.
"We are adding three more aircraft, all Airbus A340s, on operating lease. Delivery of the first took place in Abu Dhabi this week. Delivery of the second will be in March 2004, and delivery of the third will be in June 2004. Our fleet will increase from 33 to 36 next year," said James Hogan, president and chief executive, Gulf Air.
Earlier, Ahmed Al Hammadi, vice-president — finance, said the turnaround of the airline is due to the strong support from the owner states who injected 45 million dinars in January this year.
"Another 45 million dinars will be injected in December this year. We will not ask for any more cash injection," he said.
"Gulf Air will break even in 2004 and we are on target to reduce losses to 20 million dinars by end-2003," he said, adding that up to September this year, losses had been brought down to 18.4 million dinars.
Gulf Air's no-frills Gulf Traveller has clocked a 74.9 per cent average passenger load factor in the five months it has been operational. "Gulf Traveller flies to 17 destinations currently and we plan to increase destinations next year," he said.
Hogan confirmed the airline is still in dialogue to join a global airline alliance. "Because of what happened in the aviation world, things are delayed. But we are in talks to join an alliance," he said.