Gulf Air restructures its aircraft order totalling US$ 7.6 billion
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The recent Bahrain International Airshow witnessed Gulf Air restructure its orders of 45 aircraft with Boeing and Airbus in deals worth a combined total of USD7.6 billion.
The orders consist of 16 Boeing 787-9 Dreamliners, 17 Airbus A321neo and 12 Airbus A320neo aircraft. The deliveries will commence from Q2 of 2018. The restructured orders will simplify the airline’s future wide-body fleet to Boeing 787-9 Dreamliners and ensure its focus on the A320 neo family aircraft.
Gulf Air acting chief executive officer, Maher Salman Al Musallam, said: “As partners, Boeing and Airbus have understood challenges faced by Gulf Air. I am happy that we have arrived at mutually agreeable solutions to restructure our previous orders with aircraft that are more fuel-efficient, modernised and reliable. This is in-line with our mission to put the airline firmly on a path towards long-term commercial sustainability.”
The airline continues to rationalize its operations to realize commercial sustainability. Progressively improving business results have reduced the airline’s financial losses by approximately 85% since 2012. Alongside this, the airline’s strategic direction encompasses fleet developments to cater to future network and capacity enhancement and fleet modernization.
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