Jazeera Air­ways an­nounces 9-month fi­nan­cial re­sults

Kuwait Times - - BUSINESS -

Jazeera Air­ways yes­ter­day an­nounced its third quar­ter fi­nan­cial re­sults, re­port­ing Q3 op­er­at­ing rev­enues of KD18.8 mil­lion and a net profit of KD6.0 mil­lion, bring­ing the com­pany’s year-to-date net profit to KD12.0 mil­lion.

9M 2016 Fi­nan­cial High­lights

Op­er­at­ing rev­enue: KD43.5 mil­lion, down 8.8% from 9M 2015 Net profit: KD12.0 mil­lion, down 9.7% from 9M 2015 Pas­sen­gers: up 2.6% from 9M 2015 Load fac­tor: up 1.8% from 9M 2015 On-time per­for­mance: 90.1% Q3 2016 Fi­nan­cial High­lights: Op­er­at­ing rev­enue: KD18.8 mil­lion, down 10.6% from Q3 2015 Net profit: KD6.0 mil­lion, down 27.1% from Q3 2015

Year-to-Date Busi­ness Re­view

In Fe­bru­ary, Jazeera Air­ways launched a ma­jor prod­uct en­hance­ment pro­gram to boost cus­tomer ex­pe­ri­ence through var­i­ous on-ground and in-flight ini­tia­tives. The pro­gram, ti­tled ‘The Next Big Thing’, in­cludes a ded­i­cated re­mote check-in and long-term park­ing fa­cil­ity, in-flight broad­band ser­vice, a ded­i­cated ter­mi­nal at Kuwait In­ter­na­tional Air­port, and a ded­i­cated busi­ness class lounge at Kuwait In­ter­na­tional Air­port.

In June, the com­pany launched flights to the city of Taif, its third des­ti­na­tion in the King­dom of Saudi Ara­bia with three flights a week.

In July, Jazeera Air­ways was of­fi­cially no­ti­fied that its re­quest to be al­lo­cated land at Kuwait In­ter­na­tional Air­port to build a ded­i­cated ter­mi­nal was ap­proved by the Kuwait Coun­cil of Min­is­ters. The ter­mi­nal is a so­lu­tion pro­posed by the air­line to help ease the con­ges­tion at Kuwait In­ter­na­tional Air­port, the coun­try’s only pri­mary air­port, which is cur­rently op­er­at­ing over ca­pac­ity. The pro­ject’s in­vest­ment value is KD14 mil­lion, and its to­tal con­struc­tion time frame is 15 months, in­clud­ing ob­tain­ing all per­mits. In July, Jazeera Air­ways launched a ded­i­cated busi­ness class lounge at Kuwait In­ter­na­tional Air­port. The lounge is part of the ‘The Next Big Thing’ prod­uct devel­op­ment pro­gram launched by the air­line.

In Septem­ber, Jazeera Air­ways launched Kuwait’s first re­mote check-in and park­ing ser­vice called Park’n’Fly. More on the ‘The Next Big Thing’ pro­gram be­low.

Jazeera Air­ways Chair­man, Mar­wan Boodai, said: “Our earn­ings for the quar­ter came in less than ex­pected even though we car­ried more pas­sen­gers and we lifted our load fac­tor, how­ever the pres­sure on yields due to low oil prices and a host of other fac­tors con­tin­ued through the third quar­ter. With that said, our prod­uct devel­op­ment pro­gram is ex­pected to boost our an­cil­lary in­come and our over­all dif­fer­en­ti­a­tion fac­tors once com­pleted by next year.”

The Next Big Thing

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.

Launched in Q3 2016, state-of-the-art check-in fa­cil­ity lo­cated two min­utes away from the air­port to serve as a sec­ond op­tion for flight check-in.

Op­er­a­tional to­day, 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 checkin con­ges­tion.

Ex­clu­sive Busi­ness Class lounge with a view

Launched in Q3 2016, Jazeera Air­ways Busi­ness Class trav­el­ers now en­joy an ex­clu­sive ac­cess to 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 are of­fered at the lounge.

Jazeera Air­ways Long-Haul

Jazeera Air­ways is cur­rently look­ing to ex­pand its net­work to in­clude key long-haul 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.

Jazeera Air­ways Ter­mi­nal

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.

BUENOS AIRES: Women line up for a free din­ner to take home to their fam­i­lies, from Norma Colque’s soup kitchen in the Villa 31 neigh­bor­hood of Buenos Aires, Ar­gentina. With the econ­omy ex­pected to shrink by 1.5 per­cent this year, Pres­i­dent Mauri­cio Macri now ad­mits his poverty goal isn’t pos­si­ble, and dis­con­tent is grow­ing. —AP

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