Bahrain Air, the private national carrier of the Kingdom of Bahrain, announced that it has returned to profitability in June and July.
Mr. Richard Nuttall, chief executive Officer of Bahrain Air stated “We are very pleased with the results. Summer is traditionally the strongest season for all airlines, but given the turbulence in many of the traditional summer destinations, this result is a major achievement.”
Mr. Nuttall added “This performance has enabled us to become fully current with all our government and quasi government service providers in Bahrain and abroad since March 2012. We are currently putting every effort to reach an agreement with our creditors for the restructuring of our debts that accumulated as a result of the unfortunate events that took place in Bahrain and the region.
“We are optimistic of our ability to improve our performance further in the coming months in the hope of continued stable economic, security and political conditions and receiving the required cooperation and support to our Commercial operations from the concerned authorities,” he added.
Bahrain Air achieved an increase of 67% in revenue during June and July while increasing seat factor by 27% compared to the same period last year.
“These results demonstrate an underlying strength and resilience in our business model and are a credit to the whole Bahrain Air team. There will be a slight downturn in the performance for August due to the Holy month of Ramadan, but after that we expect the rest of the year to be strong” Mr. Richard Nuttall added.
“We would like to thank our customers and shareholders for their support and our suppliers and creditors who have been patient with us during the difficult months. We are also looking at cautious expansion in the coming months in a manner that will allow us to further improve our network and results.”
Mr. Nuttall concluded “The last few months have been very encouraging as we strive in our goal to be Bahrain’s favourite airline”.