Gulf Air to expand its fleet by 10pc

Gulf Air has signed an agreement to increase its fleet by 10 per cent, the company announced yesterday.

A Gulf Air delegation has returned from London, where aircraft leasing agreements were concluded to add three more to the 30-aircraft fleet.

James Hogan, Gulf Air's president and chief executive, said: "The airline has entered into agreements to lease an additional three aircraft. This initiative will meet and support the current requirements of our network, which is being planned around the provision of daily frequencies to key destinations."

This follows the signing of a letter of intent to lease two Airbus A340-300 aircraft.

Scheduled to enter service during the summer on existing long haul routes, and later on the recently announced Australian sector, the addition of the two new aircraft brings the total of A340s to seven.

Gulf Air is also to take delivery of an Airbus A320 following the conclusion of a leasing agreement earlier this month. The aircraft will enter service next month serving short and medium haul routes on the airline's expanding network.

"The decline in worldwide travel and its negative knock-on effect on aircraft manufacturers has created a very favourable buyers' market. We have more choice and leverage than we might have had in the past," said Hogan.

"We are, however, committed to a 10-year fleet expansion programme and will base all decisions on the requirements and criteria of the network, matching what we require with the best available options in the market."

The airline said it was in ongoing discussions with aircraft manufacturers Airbus, Boeing, Bombardier and Embraer, with further meetings this month during the Paris Airshow.