Gulf Air removes two A340s from its fleet
Gulf Air today announced the successful sale of two of its Airbus A340s to an affiliate of Apollo Aviation Group in Florida, USA. The sale is an important step in realizing Gulf Air's fleet realignment strategy to create a profitable and sustainable national carrier for Bahrain.
At 16 years of age, these A340-300s were the two oldest aircraft in Gulf Air's fleet and had been previously withdrawn from service.
The airline's decision to sell these aircraft has relieved the company of the impending requirement to invest US$ 25 million in order for the aircraft to continue in service. These capital expenditures were not in line with the company's fleet realignment strategy.
The airline decribed the completion of this sale as a milestone achievement as it strives to become a profitable and sustainable airline by 2012.
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