Monday 27 January 2020

Jazeera Airways H1 net profit hits $4.5m

KUWAIT, August 20, 2018

Kuwait-based Jazeera Airways has posted a net profit of KD1.4 million ($4.5 million) in the first half of the year, up 6.4 per cent from the same period in 2017.

In a statement released by the airline, Jazeera Airways reported a 43 per cent growth in revenue, hitting KD34.4 million ($112.9 million), and 50 per cent growth in flown passengers, amouonting to 894,172 passengers, following a series of route launches and added capacity.

Operating profit for the first six months was KD1.3 million ($4.2 million), up 11.7 per cent from H1 2017.

Jazeera Airways chairman, Marwan Boodai, said: “Despite the hike in fuel prices during the first half of the year and a volatile competitive landscape that depressed yields, we are pleased to see the efforts and investments throughout 2017 and 2018 are delivering results and attracting more people to fly Jazeera Airways."

"So far in 2018, we’ve added two Airbus A320 aircraft to our fleet, one of which is a brand new state-of-the-art A320Neo. We have successfully launched our very own terminal at Kuwait International Airport, the first passenger terminal owned by an airline in the Middle East, and we have introduced five new routes, three of which have already won over 40 per cent in market share. The rest of the year is looking promising with a very active summer season,” he said. - TradeArabia News Service

Tags: Jazeera Airways | Net Profit |

More Travel, Tourism & Hospitality Stories

calendarCalendar of Events