Gulf Air, Bahrain’s national carrier, has laid off 15 percent of its staff and cut four of its loss-making routes since January as part of its restructuring, the airline has said.
The loss-making carrier, which announced its restructuring in December, said the measures had so far helped reduced its overall costs by over 34 percent.
Gulf Air, which has suffered amid stiff competition from nearby Emirates Airline, Qatar Airways and Etihad Airways, said it remains on track to achieve overall cost savings of 24 percent by the end of the year.
“In January 2013, through the implementation of prudent cost saving measures and an aggressive efficiency drive the airline reduced its overall losses by over 34 percent compared to Jan 12, posted 9.6 percent increase in passenger revenue against its budgeted revenue and, increased its yields by over 8 percent,” the airline said in a statement.
Read more: http://www.arabianbusiness.com/gulf-air-lays-off-15-of-staff-in-restructuring-490977.html
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