Jazeera Air­ways re­ports op­er­at­ing profit of KD2.2m

Op­er­at­ing profit and net profit record dou­ble digit growth in Q2 2017

Kuwait Times - - BUSINESS -

Jazeera Air­ways yes­ter­day an­nounced its sec­ond quar­ter fi­nan­cial re­sults, re­port­ing an op­er­at­ing profit of KD2.2 mil­lion, up 22.9 per­cent from the same pe­riod last year, and a net profit of KD2.3 mil­lion, re­flect­ing a growth of 18.1 per­cent from the same pe­riod last year. Jazeera Air­ways’ pos­i­tive re­sults were driven by higher uti­liza­tion, im­proved net­work plan­ning, and a strong de­mand for travel dur­ing the quar­ter, which was air­line’s best sec­ond quar­ter by flown pas­sen­gers since Q2 2009.

Jazeera Air­ways Chair­man Mar­wan Boodai said, “I am pleased to re­port to our share­hold­ers that we are on track to­wards in­creas­ing share­holder value. The com­pany’s dou­ble digit growth at both the op­er­a­tional level and the net level re­flects this on­go­ing com­mit­ment.”

“Our half-year re­sults, how­ever, were pulled down by Q1’s earn­ings due to a host of ex­ter­nal fac­tors, most notably a slow­ing macroe­con­omy and the con­tin­ued over­ca­pac­ity on our routes. But the turn-around we saw in the air­line’s per­for­mance in Q2 is very en­cour­ag­ing and we are well-po­si­tioned to sus­tain this pos­i­tive per­for­mance in the com­ing quar­ters on the back of a se­ries of cus­tomer-fo­cused ini­tia­tives that we’ve been an­nounc­ing for the past year. Cur­rently, our team is fo­cused on dig­i­tiz­ing, max­i­miz­ing, and mon­e­tiz­ing Jazeera Air­ways even more. Ear­lier this week we launched our new brand, along with a reengi­neered jazeer­aair­ways.com, which now has a strong e-com­merce in­fras­truc­ture tasked with de­liv­er­ing a faster and more re­ward­ing ex­pe­ri­ence for our cus­tomers. Our team is also work­ing hard to fur­ther op­ti­mize our route net­work, to in­crease uti­liza­tion of our fleet, to add new routes in the com­ing quar­ters, and to de­liver the state-of-the-art ded­i­cated ter­mi­nal at Kuwait In­ter­na­tional Air­port, which we promised to launch in the first quar­ter of next year.”

H1 Business High­lights

Launched two new routes: Baku and Doha Im­proved yield per pas­sen­ger by 4.7 per­cent in Q2, vs Q2’16

Im­proved fleet uti­liza­tion by 3.4 per­cent

Strength­ened the com­mer­cial team with new se­nior hir­ings in rev­enue man­age­ment, net­work plan­ning, and e-com­merce op­er­a­tions

Started con­struc­tion of the air­line’s state-ofthe-art ded­i­cated ter­mi­nal at Kuwait In­ter­na­tional Air­port

Launched a new, sim­pli­fied brand, a new web­site

Op­er­ated in 2005, Jazeera Air­ways is a Boursa Kuwait-listed com­pany serv­ing pop­u­lar des­ti­na­tions in the Mid­dle East. The air­line op­er­ates a fleet of Air­bus A320 air­craft with two class cab­ins com­pris­ing a Business Class and an Econ­omy Class. Business Class trav­el­ers get both an up­graded ex­pe­ri­ence and ex­clu­siv­ity, start­ing with ex­clu­sive check-in lines, business lounge ac­cess, up to 60 kilo­grams in free bag­gage allowance, and an ex­clu­sive on-board cabin. The air­line’s Econ­omy Class of­fers trav­el­ers free bag­gage allowance of 40 kilo­grams and free on-board meals with a chang­ing menu every month.

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.