Gulf Air financial results: revenue, operating profit, passengers & load factor
Aviation Intelligence Database · Airline profile
Airline profile
Company-reported performance, unit economics, balance-sheet and fleet metrics from FY2022 to the latest published period. Metrics are in the same order as the Airline Comparison tool.
At a glance
Latest reported period
Trends
Performance over time
Headline metrics and correctly labelled unit economics, FY2022 to the latest period.
Metrics
Full-year history
Analysis
What the numbers say
More detail
Additional disclosures
Guidance vs actual
Did the airline deliver?
What management guided at the start of each financial year compared with what was reported. Within the guided range = met; for cost metrics, below the range = beat.
Fleet & orders
Fleet composition
Key events
What moved the numbers
Peers
Compare with peers
FAQ
Frequently asked questions
Methodology
How to read this page
Every figure keeps the company’s own reporting period, currency, entity scope and terminology. Partial periods are not annualised, currencies are not converted and missing KPIs are not estimated. Core metrics follow the Airline comparison tool.
- Fiscal years are labelled by the calendar year in which they end (a year to 31 Mar 2025 appears as FY2025). The exact period end is shown in the first row, with a link to the source document.
- Quarters follow the company’s reporting calendar; the company’s own label is noted beneath the period.
- YoY change compares with the same period one year earlier: % change for amounts, percentage points (pp) for ratios. Green means favourable (for costs, a fall is favourable). n.m. = not meaningful.
- Operating margin uses operating profit or EBIT ÷ revenue. EBITDA, EBITDAR and their margins are separate disclosures and are not substitutes for operating profit or margin. Company-defined measures keep their source labels (marked D).
- Sources: annual reports, interim results and traffic statements. See Data & Research.
Text version of the Gulf Air data on this page
Gulf Air data snapshot
- Scope: Gulf Air Company B.S.C. (c), Bahrain’s national carrier
- Region: Middle East
- Business model: Global network
- Financial year end: 31 Dec
- Reporting currency: BHD
- Source: Financial figures reported by the Bahraini press; operating statistics from company releases
- Latest period: FY2025
- Last updated: 2026-09-27
Latest read
Gulf Air carried 6.65 million passengers in 2025, up 5%, on 52,099 flights, and lifted its load factor to 81.6% from 77.0%. The latest published accounts, for 2023, show operating revenue of BD473.5 million and a thin operating profit of BD5.3 million, against finance costs of BD39.5 million.
Reported metrics by period
Annual results
- FY2025 (FY2025 · 31 Dec 2025): Passengers: 6.65m (Passengers; +5%); Load factor: 81.6% (Load factor; +4.6pp); Flights / sectors flown: 52,099 (Flights); Ancillary revenue: 77.7m kg cargo (Cargo uplift); Firm orders outstanding: 15 787s (Boeing 787 order plus 3 options). Source: Gulf Air 2025 performance (TravelDailyNews).
- FY2024 (FY2024 · 31 Dec 2024): Passengers: 6.2m (Passengers; +5.4%); Load factor: 77.0% (Load factor (from the 2025 release)). Source: Gulf Air (Daily Tribune).
- FY2023 (FY2023 · 31 Dec 2023): Revenue: BD473.5m (Operating revenue; +10%); Operating profit / result: BD5.3m (Operating profit; operating costs BD468.2m; finance costs BD39.5m; other income BD5.5m); Operating margin: 1.1% (Operating profit ÷ revenue) [Calculated]. Source: Gulf Air accounts (Daily Tribune).
- FY2022 (FY2022 · 31 Dec 2022): Revenue: BD430.7m (Operating revenue); Operating profit / result: BD1.5m (Operating profit; operating costs BD429.2m; finance costs BD30.2m); Operating margin: 0.4% (Operating profit ÷ revenue) [Calculated]. Source: Gulf Air accounts (Daily Tribune).