GULF AIR IS TARGETING a return to profit by 2012, according to its chief executive Samer Majali, chief executive officer of Gulf Air. The former Royal Jordanian boss said the airline - which this year celebrates its 60th anniversary - was realigning itself as the primary regional carrier in the Middle East.
Majali - who was headhunted for the CEO role by Bahrain's sovereign wealth fund, Mumtalakat - said the company had to focus on product and value for money if it was to drag itself out of the financial doldrums. Gulf Air was previously joint-owned by Bahrain, Oman, Qatar and Abu Dhabi. But all three emirates sold their interests in the business over a 15-year period, ending in 2004, to establish their own carriers. Gulf Air has not turned a profit since.