Gulf Air forecasts $1bn loss

05 August 2008

Bahrain-based carrier Gulf Air has forecast a $1bn loss spread across two years according to a leaked internal memo, The National has reported. The airline will sustain losses of BD131.7m this year, followed by BD226.3m next year. The losses are expected to gradually subside over the next six years, down to BD22.6m in 2013. Gulf Air acknowledged the authenticity of the memo but played down its importance.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications