Jazeera Airways Q1 profit up 33 pct
Operating revenue clocks KD 11.9 million
KUWAIT CITY, April 27: Jazeera Airways today announced its financial results for the first quarter of 2016. The company registered a net profit of KD4.0 million, an increase of 33.0% from the same quarter last year.
Q1 2016 Highlights:
■ Operating revenue: KD11.9 million, less 7.8% from Q1 2015
■ Net profit: KD4.0 million, up 33.0% from Q1 2015
■ Passengers: up 5.1% from Q1 2015
■ Load factor: up 2.4% from Q1 2015
■ On-time Performance: 90.9% Jazeera
Airways Chairman, Marwan Boodai, said: “We’ve had a busy and exciting quarter as we lay the ground-work for the growth and expansion of our offering in 2016 and beyond. Soon we will start flights to Taif, our third destination in Saudi Arabia, with the first flight scheduled for June 7th. On the product development front, we kicked-off various construction programs for initiatives that fall under our ‘The Next Big Thing’ strategy, launched in February of this year, and we are on track to deliver starting with the dedicated business class at Kuwait International Airport and the remote check-in and long-term parking facility. Both initiatives are in development today and are set to launch in the third quarter of this year.
“Our outlook for the year remains unchanged and in line with our sector’s seasonality. While the excessive overcapacity on the sectors we operate poses a downward pressure on our yields, we expect to counter this pressure in the peak summer season and close the year with growth in our operational profits and our bottom line.”
The Next Big Thing is a series of new ambitious and game-changing initiatives that will boost Jazeera Airways’ offering, reinforce its brand, and attract and retain more customers in 2016 and beyond. Below is a glimpse into the four new initiatives and how they will transform Jazeera Airways’ offering.
Jazeera Airways is constructing a stateof-the-art check-in facility located two minutes away from the airport to serve as a second option for flight check-in. Operational by end of 2016, the facility is a single-stop remote check-in facility with valets for both short-term and long-term parking and luggage assistance. Once travelers and their luggage are checked in, they will be shuttled to the terminal where they can proceed directly to passport control, thus completely bypassing the hassle of navigating Kuwait International Airport’s parking and check-in congestion.
Starting Q3 2016, Jazeera Airways Business Class travelers will enjoy exclusive access to what will be the newest lounge at Kuwait International Airport, and the only lounge at the airport with a direct and unobstructed view of the tarmac. High-speed internet, comfortable seating, food, and drinks will be offered at the lounge.
Starting Q1 2017, Jazeera Airways’ fleet will be equipped with cutting-edge broadband internet technology from Rockwell Collins, who have chosen Jazeera Airways to be the launch customer for this new service. In 2017 Jazeera Airways travelers will have the opportunity to live stream their favorite TV shows, movies, news, and sports on any personal device.
Jazeera Airways is currently looking to expand its network to include key longhaul destinations by partnering with an international operator. Though still in its early stages, the airline confirms the new routes will be non-stop and offered through a true partnership with a global airline.
The airline is in an advanced planning stage to establish a dedicated terminal at Kuwait International Airport, which will help Jazeera Airways better serve its travelers and help relieve the congestion at the country’s single-terminal airport.