Profits fall at Gulf Air

18 March 1994

Regional carrier Gulf Air recorded profits of $35 million-40 million in 1993, president and chief executive Salim Bin Ali Bin Nasser Assiyabi said on 21 February. Assiyabi revealed that a full balance sheet would be released at the airline's board meeting, scheduled to be held in Al- Ain in late March. In 1992, the airline made profits of $49.2 million.

Assiyabi made light of the threat posed by the recent establishment of two new national airlines in Qatar and Oman. He stressed that the regional carrier had always operated under an open skies policy. Moreover, the company would not indulge in ticket discounting to compete with Qatar Airlines and Oman Aviation.

Nevertheless, Assiyabi disclosed that Gulf Air was examining new routes. Among new destinations planned were flights to New York, Tokyo, Moscow, Seoul, China and Vietnam, he said.

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