Bahrain’s Gulf Air reduced losses by 62% last year as a result of the company’s restructuring. Losses fell from 62.7 million dinars ($166.30 million) in 2014 to 24.1 million dinars ($63.92 million) last year, Gulf Air said in a statement. “I am delighted with these results. 2015 delivered the fruits of Gulf Air’s ongoing holistic business strategy, implemented since the airline’s 2013 restructuring,” said the carrier’s chairman, Shaikh Khalid bin Abdulla Al-Khalifa. Gulf Air’s losses stood at 196 million dinars ($519.8 million) in 2013. The carrier serves more than 40 destinations with a fleet of 28 narrow and wide-body planes.

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