Jazeera Airways posts H1results
Co reports 43% growth in revenue
KUWAIT CITY, Aug 14: Jazeera Airways announced its financial results for the first half of 2018.
The airline reported 43% growth in revenue and 50% growth in flown passengers following a series of route launches and added capacity.
H1 2018 Financial and Operational Highlights:
Operating revenue: KD34.4 million, up 43.0% from H1 2017
Operating profit: KD1.3 million, up 11.7% from H1 2017
Net profit: KD1.4 million, up 6.4% from H1 2017
Passengers: 894,172, up 50% from H1 2017
Fleet utilization: 12.9 hours, up 31.7% from H1 2017
Load factor: 74.7%, up 2.8% from H1 2017
Q2 2018 Financial and Operational Highlights:
Operating revenue: KD20.1 million, up 43.3% from Q2 2017
Operating profit: KD1.8 million, down 19.4% from Q2 2017
Net profit: KD1.8 million, down 23.6% from Q2 2017
Passengers: 490,409, up 56.2% from Q2 2017
Fleet utilization: 14.0 hours, up 36.9% from Q2 2017
Load factor: 73.7%, up 0.6% from Q2 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 A320 NEO. 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 introduced 5 new routes, three of which have already won over 40% in market share. The rest of the year is looking promising with a very active summer season.”