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21-05-14

Bahrain's Gulf Air losses down 52 percent in 2013

(MENAFN) Bahrain's national carrier Gulf Air posted a 52 percent drop in annual losses in 2013, getting closer to the end of a five-year restructuring, according to Arab News. Gulf Air net losses dropped by over USD265.25 million resulting in its strongest earnings in eight years. The company could decrease its losses by retiring aircraft, closing eight routes, reducing staff expenses and renegotiating over 2,000 contracts with suppliers. The airline said it was targeting a further reduction in losses of about 10 percent this year.