Bahraini flag carrier Gulf Air moved closer to breakeven in 2015, reducing its net loss to BD24.1 million ($63.6 million) from BD62.7 million in 2014. The airline has gradually pulled back from the financial brink in 2011-12 when it was incurring annual deficits of around BD200 million. It has undergone a major restructuring program, slimming both its fleet and workforce—the latter a sensitive matter in the tiny island nation where it is a major employer. It has also moved away from ...

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