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Jazeera Airways ... record gains.

Jazeera Airways Q3 profits soar 22.6pc

KUWAIT, October 22, 2014

Kuwait-based Jazeera Airways Group today announced a record net profit of KD8.1 million ($28 million) for the third quarter of this year, up 22.6 per cent from KD6.6 million ($22.82 million) during the same period in 2013, making it the company’s best quarter in history.

This is the company’s 17th quarter of straight profitability, of which 13 had record net earnings, Jazeera Airways said.

Net profit of the first nine months of this year was KD13.0 million ($44.94 million), down 7.9 per cent from the same period last year.

The airline’s Q3 2014 financial highlights include an operating revenue of KD23.1 million ($79.86 million), up 15.2 per cent from Q3 2013 and an operating profit of KD9.1 million ($31.46 million), up 17.8 per cent from Q3 2013.The airline flew 10.8 per cent more passengers during the quarter.

Jazeera Airways Group chairman, Marwan Boodai, said: “Despite the continued political unrest in several areas of our network, the company managed to deliver the best earnings in the history of our nine-year-old airline. That’s not to say that Jazeera Airways wasn’t impacted by the rise of hot spots in our region. In fact, like many of our peers, some of the destination flights paths had to be rerouted to ensure the safety of our passengers and crew, and that resulted in more flying hours. However, thanks to our team’s dynamic capacity management and resource planning, we were able to absorb the impact in Q3 while registering 10.8 per cent growth in flown passengers and a 22.6 per cent growth in profitability."

Jazeera Airways (the airline) operates seven Airbus A320s with a two-class cabin comprising a Business Class and an Economy Class. The airline serves 20 destinations in the Middle East from Kuwait. – TradeArabia News Service
 




Tags: Kuwait | Jazeera Airways | profit |

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