Jazeera Airways profits down 34pc
Freedom Town, Kuwait, July 23, 2014
Jazeera Airways Group has reported a net profit of KD4.9 million ($17.3 million) in the first half of the year, down 34.7 per cent as compared to the same period last year.
It operating revenue was KD29.3 million, down 4.9 per cent and operating project was KD6.4 million, down 32.5 per cent, said a statement.
Marwan Boodai, chairman, said: “The group’s performance in the year’s first two quarters continues to be in line with our projections, and though the earnings were lower than last year’s exceptional results due to external factors such as a 10 per cent rise in fuel cost and flight re-routing due to regional unrest, the earnings were the second highest earnings in the company’s history.”
“This year is shaping up to be another milestone year for the group. In the last six months, the group received a brand new Airbus A320 from the manufacturer, and leased two aircraft to TAP Portugal, its first customer in Europe,” he said.
“Furthermore, in June, Jazeera Airways launched four exclusive and dedicated gates, making it the only airline in Kuwait with gates that are exclusive to its customers,” he added.
The dedicated gates, which are equipped with two bridges, are strong product differentiators and enabled Jazeera Airways to offer a better, easier, and more streamlined boarding experience for customers, said the statement.
The group is a Kuwait Stock Exchange-listed company with a fleet of 15 A320s, through its wholly-owned leasing-arm Sahaab Aircraft Leasing.
Sahaab has assets placed with Virgin America, SriLankan Airlines, Flynas, TAP Portugal and Jazeera Airways. - TradeArabia News Service