More than 6 million revenue passengers carried in 2003
Gulf Air received one of the best possible indicators that it was on the road to recovery with the revelation that more than six million revenue passengers had flown with the airline in 2003. This was the highest number ever carried in a single financial year.
The figures revealed that over half a million more passengers flew with Gulf Air compared to 2002 an increase of more than 10 per cent, while the 6 million figure showed nearly 2 millions increase on ten years ago.
James Hogan, President and Chief Executive of Gulf Air said that the re-shaping of the airline had been conducted with one single goal in mind and that was to provide the best possible benefits to the customer. “The true judges of whether we are on the right track with our restructuring programme are our passengers,” he said. “They certainly have given us a vote of confidence during 2003 and we aim to ensure they continue to fly with us with a programme of continuous improvements to products and services in 2004.”
The record figure is even more significant against the backdrop of one of the most difficult years in the global aviation industry and increased local competition.
“Through the implementation of streamlined operations, improved business processes, and day to day fiscal discipline, we gave ourselves the flexibility to respond quickly to an ever-changing and dynamic market, and the requirements of a more sophisticated customer base in the region,” Hogan adds.
“Within this context, Gulf Air has performed exceptionally well. We expect to be among just a small group of airlines that have achieved positive growth in a year that has presented more than its fair share of challenges.”
Hogan also added that the importance of the passenger numbers being at an all-time record high could only be seen as successful if unit costs are down and the yield is up.
“In both these areas we have achieved considerable success and as a result we will meet our financial targets for the year,” he said.
2003 has seen a reduction in Gulf Air losses from BD40.6 million to around BD20 million, and this year Gulf Air will break even, achieving profitability in 2005. Aircraft financing debts have also decreased significantly.
“This is not a flash in the pan,” he said “The foundations we have been laying over the past year or so are for the long term benefit of Gulf Air. Despite the shadow cast over the area by regional tensions and the ongoing instability and security risks in Iraq, there is also a great deal of optimism and every reason for confidence in the future.”
The achievements of 2003 have been many. Following on from the innovative Chefs in the Sky programme, and brand new menus for all cabins, came the introduction last year of Gulf Air’s new corporate identity and in June, the exciting introduction of Gulf Traveller, the unique all economy full service subsidiary airline.
The airline’s suite of electronic products and services was enhanced by the introduction of the region’s first electronic check-in kiosks at the airports in Bahrain, Abu Dhabi, Dubai and Oman. Other innovative services added include worldwide traveller notification via short message service (SMS) and the downloadable e-timetable.
Technological innovation reached its highpoint in September, when the region’s first Worldwide Customer Contact Centre was opened in Oman and November saw the introduction another world first when the unique Norland-trained Gulf Air Sky Nanny was announced to provide professional child care to younger passengers on board long haul flights.
The year has also seen the introduction of several new destinations, including Kochi, Bangalore and Kolkata in India, Athens and Sydney, while the growth in the network was complemented by simultaneous fleet expansion, leasing agreements were signed for an additional five aircraft.
YEAR REV.PAX
1993 5,265,385
1994 5,579,932
1995 5,698,454
1996 5,673,382
1997 5,512,843
1998 5,627,104
1999 5,792,304
2000 5,980,904
2001 5,613,896
2002 5,478,556
2003 6,047,447
-Ends-
About Gulf Air
Gulf Air was founded in 1950. Today, it is owned by the Kingdom of Bahrain, Oman and the UAE and is the only truly pan Gulf carrier in the region. The airline’s network which stretches from Europe to Asia and Australia and covers 45 cities in 34 countries. The fleet is one of the most modern in the Middle East and comprises 34 aircraft.
The airline is in the second year of a three-year strategic recovery programme, headed by President & Chief Executive, James Hogan. The airline’s aim is to further evolve by taking its renowned cultural strengths, technical expertise, modern fleet and professional management team which have been developed over more than half a century, into a global competitive environment.
For information, please contact:
Anne Tullis
Manager Corporate Communications
Public Relations Department
Gulf Air
Tel: +973 338 098
Fax: +973 338 207
anne.tullis@gulfairco.com
Web: http://www.gulfairco.com
© Press Release 2004
