- Group net profit for the quarter: KD8.1 million, up 22.6%
Freedom Town, Kuwait – October 22, 2014: Jazeera Airways Group today announced a record net profit of KD8.1 million for Q3 2014, up 22.6% from Q3 2013’s KD6.6 million, making it the company’s best quarter in history. This is the company’s 17th quarter of straight profitability, of which 13 had record net earnings.
Q3 2014 Highlights ________
- Operating Revenue: KD23.1 million, up 15.2% from Q3’13
- Operating profit: KD9.1 million, up 17.8% from Q3’13
- Net profit: KD8.1 million, up 22.6% from Q3’13
- Hard assets of KD167 million
- Equity improved by KD10 million since Q3 2013
- Flown passengers up by 10.8%
9 Months 2014 Highlights ________
- Operating Revenue: KD52.4 million, up 3.1% from 9 months 2013
- Operating profit: KD15.5 million, down 9.9% from 9 months 2013
- Net profit: KD13.0 million, down 7.9% from 9 months 2013
Jazeera Airways Group Chairman, Marwan Boodai, said, “Despite the continued political unrest in several areas of our network, the company managed to deliver the best earnings in the history of our nine-year old airline. That’s not to say that Jazeera Airways wasn’t impacted by the rise of hot spots in our region. In fact, like many of our peers, some of the destination flights paths had to be rerouted to ensure the safety of our passengers and crews, and that resulted in more flying hours. However, thanks to our team’s dynamic capacity management and resource planning, we were able to absorb the impact in Q3 while registering 10.8% growth in flown passengers and a 22.6% growth in profitability.”
9M 2014 Business Highlights ________
In June, the airline launched four exclusive and dedicated gates, making it the only airline in Kuwait with gates that are exclusive to its customers. The dedicated gates, which are equipped with two state-of-the-art bridges, are strong product differentiators and enabled Jazeera Airways to offer a better, easier, and more streamlined boarding experience for customers. Today, Jazeera Airways passengers are the only passengers in Kuwait who have access to booking with their mobile phone, checking-in online or in person using the airport kiosk, boarding through exclusive gates and state-of-the-art bridges, and fly on brand new aircraft.
Jazeera Airways also upgraded its Istanbul route by operating to and from the city’s primary airport, Istanbul Atatürk Airport (IST), with five flights a week, instead of flying to Sabiha Gökçen International Airport (SAW), to which the airline has served since 2008. The move to Istanbul Atatürk Airport bolstered the route by offering customers better flight schedules to an airport that is at the heart of the city.
Jazeera Airways Group is a Kuwait Stock Exchange-listed company with a fleet of 15 A320s, through its wholly-owned leasing-arm Sahaab Aircraft Leasing. Sahaab has assets placed with Virgin America, SriLankan Airlines, Flynas, TAP Portugal and Jazeera Airways.
Jazeera Airways (the airline) operates seven Airbus A320s with a two-class cabin 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.
Jazeera Airways is based in Kuwait and serves 20 popular destinations in the Middle East from Kuwait comprising high-demand business, leisure, family, and weekend destinations such as Dubai, Bahrain, Beirut, Alexandria, Amman, Istanbul, Sharm El Sheikh, Assiut, Luxor, Mashhad, Sohag, Jeddah, Riyadh, and Cairo.