Gulf Air said Saturday it recorded a net loss of around $98 million last year, but expected to halve its losses in 2001 after a cash injection by its owners, reported the Gulf Daily News.
The airline recorded a net profit of $1.1 million in 1999, sharply down from $10 million in 1998.
“This year, we expect to cut the losses by 50 percent from last year,” said Adel Abdulla Ali, vice president for commercial and customer services – Albawaba.com
