Jazeera Airways reports KD2 million net profit in H1

Jazeera

Jazeera Airways has reported Q2 operating revenues of KD24.7 million and a net profit of KD2 million, bringing the company’s year-to-date net profit to KD6 million.
Jazeera Airways Chairman Marwan Boodai said: “We report another strong quarter on the back of higher passenger numbers, in terms of both volume and load factor. We closed the year with a load factor of 72.4 percent, which is a full 10 percent higher than our peers’ average load factor on the routes we operate. Our outlook for the year remains unchanged.”
H1, 2016 financial highlights include an operating revenue of KD24.7 million, less 7.3 percent from H1, 2015; net profit of KD6 million, less 3 percent from H1, 2015; passengers up 3.2 percent from H1, 2015; load factor up 3.2 percent from H1, 2015; and on-time performance: of 90.1 percent.
Q2, 2016 financial highlights include operating revenues of KD12.8 million, less 6.9 percent from Q2 2015, and a net profit of KD2 million, less 38.1 percent from Q2, 2015.
In February, Jazeera Airways launched a major product enhancement program.
In June, the company launched flights to Taif, its third destination in Saudi Arabia with three flights a week.
In July, Jazeera Airways was officially notified that its request to build a terminal at KIA was approved by the Kuwait council of ministers.
The project’s investment value is KD14 million and its total construction time frame is 15 months, including the permits acquisitions phase.
In July, Jazeera Airways launched a dedicated business class lounge at KIA.
Jazeera Airways is constructing a check-in facility located two minutes away from the airport to serve as a second option for flight check-in.
Starting Q3, 2016, Jazeera Airways Business Class travelers now enjoy an exclusive access to newest lounge at KIA.