Full article in JPG format: page 32/33 & page 34
If asked to describe Gulf Air’s prospects back in 2012, many observers would have responded with one word: “bleak”. The Arab Spring had decimated tourism to Bahrain, as well as forcing its flag carrier to withdraw from two key markets: Iran and Iraq. Operating losses reached 183.8 million dinar, and parliament slammed the brakes on a financial bailout amid calls for the airline to be dissolved.
All the more impressive, then, that the beleaguered company now appears to be turning a corner. When its 2013 results were published in May – three months later than originally scheduled – the figures spoke for themselves...
