Gulf Air to ground A340s

London: Gulf Air, Bahrain's national carrier, will seek to contain costs by grounding its fleet of Airbus SAS A340 long-haul jetliners and starting to hedge on fuel purchases.

The carrier will replace the five four-engine A340s with four twin-engine Boeing 777-model planes, Chief Executive Officer Bjorn Naf said on Tuesday at a news conference in London.

Gulf Air intends to take delivery of four Airbus A330 widebodies and five A320s this year.

The carrier is seeking to expand its route network in Europe and India, as well as considering flights to the US, with a target of achieving profitability by 2013 or earlier.

Losses at Middle Eastern airlines are likely to double to $200 million in 2009 as traffic growth slows, the International Air Transport Association said on December 9.