Gulf Air announces record seat-load factor in October

Gulf Air, the national airline of the Kingdom of Bahrain, continues its record performance this year with the best October aircraft occupancy rate to date. The carrier is set to continue the momentum into 2009. The airline’s seat-load factor in October was an average 74.9% compared with 66.4% last year. The previous record was 71%, set in October 2004.

“Our excellent performance in October again bears testimony to our successful alignment strategy. Our revamped network with a customer-friendly schedule, improved punctuality and strategic business alignment, continue to bear fruit," said Gulf Air Chief Executive Officer Mr. Björn Näf.

Gulf Air’s overall yield has increased by 13% since the new management team, led by Mr. Näf, took over last July. The 2008 yield is 12% higher than in 2007. The revenue per available seat capacity (RASK) has also increased by 16% and Gulf Air recorded its highest seat-load factors in the airline’s history in May, June, July and August and September.

“I am especially delighted with our long haul performance, which indicates the strength of our product and network in a global market. Encouraged by the strong performance, we have now already increased frequencies to Paris and Frankfurt. We are on target to carry six million passengers this year and we are set to continue our momentum towards sustainable growth and introducing even higher service standards in 2009.”

Mr. Tero Taskila, Gulf Air Chief Strategy Officer said: "Our repeatedly successful occupancy rate, despite the economic slowdown, is due to our simple yet effective strategy of meeting demand with supply at a competitive price and we have one of the best aircraft utilization in the region and an award-winning service to back us. Strong performance in all the classes continues and we are looking at our forward bookings very carefully to adjust our capacity to the demand. So far, the global economic slow-down has not hit us.

“We will continue to expand our network to strategic destinations and take the Gulf Air brand to greater heights."