Gulf Air Restructuring “on Track”

Bahrain’s national carrier, Gulf Air, has announced that despite a difficult operating environment, the restructuring measures it introduced in December have started yielding results.
A company statement says the: ”strategy remains on track to achieve overall cost savings of 24% by the end of 2013.”  
The airline says through the implementation of prudent cost saving measures and an aggressive efficiency drive the airline reduced its overall losses by over 34% in January 2013 compared to Jan 12. During the same period it posted a 9.6% increase in passenger revenue against its budgeted revenue and, increased its yields by over 8%.
The airline says it also cut its expenditure: “significantly” through reductions in aircraft lease fees, flight related charges, staff expenses and the closure of four loss-making routes.
Gulf Air says that based on the current progress and the estimated forecasts, its restructuring plan is on track to achieve its cost savings target by the end of 2013.  The
company adds that ndications are also strong that the Revenue per Available Seat Kilometre (RSK) will achieve the targeted 9% increase in 2013 through the establishment of robust performance frameworks designed to deliver greater efficiencies.