Subscribe Free
in Business & Finance

Jazeera Airways announces Q1 2018 earnings

Posted 26 April 2018 · Add Comment

Jazeera Airways has announced its financial results for the first quarter of 2018.

 

The results showed double digit growth in both revenue and flown passengers, in addition to a significant improvement in the bottom line. The airline recorded an operating revenue of KD14.3 million, up 42.7% from Q1 2017, and a net result of -KD0.3 million, an improvement of KD0.636 million from Q1 2017. Jazeera Airways’ improved operational and financial performance were a result of the significant investments in customer experience enhancement, new routes launches, and higher asset utilization in 2017. The company had registered a net profit of +KD8.2 million for the year 2017.

 

Q1 2018 Financial and Operational Highlights:

            Operating revenue: KD14.3 million, up 42.7% from Q1 2017

            Operating profit/(loss): (KD0.46 million), an improvement of KD0.572 million from Q1 2017

            Net profit / (loss): (KD0.3 million), an improvement of KD 0.636 from Q1 2017

            Passengers: 403,863, up 43.1% from Q1 2017

            Fleet utilization: 11.8 hours, up 25.7% from Q1 2017

            Load factor: 75.8%, up 5.4% from Q1 2017

Jazeera Airways chairman Marwan Boodai said: “Despite the first quarter being a low travel season historically, we saw a 43.1% increase in flown passengers this year, a 42.7% growth in topline earnings, and significant improvement in our bottom line earnings. The Board is pleased to see the efforts and investments throughout 2017 are creating a positive impact as early as the first quarter of 2018. Looking head, the rest of the year is looking incredibly exciting for our business with our very own dedicated terminal coming on-line in mid-May, in addition to new routes, and new additions to the fleet”.

* required field

Post a comment

Other Stories
Advertisement
Latest News

Embraer foresees demand for 10,550 new aircraft with up to 150 Seats over next 20 years

Embraer forecasts demand for 10,550 new aircraft with up to 150 seats worldwide, worth USD 600 billion, over the next 20 years. The in-service fleet is set to increase to 16,000 aircraft, up from the 9,000 aircraft currently in operation.

Gulfstream G500 completes high-speed world tour

Gulfstream Aerospace has announced the all- new Gulfstream G500 recently wrapped up its world tour after flying nearly 130,000 nautical miles/240,760 kilometers, stopping at 44 cities and visiting 18 countries on six continents in

Emirates receives IATA 753 compliance certification for baggage

Emirates has been awarded IATA 753 compliance certification for its baggage operation in its home base of Dubai.

FIA2018: Wataniya Airways to add 25 A320neo

At the Farnborough International Airshow (FIA) today, Rakan Al-Tuwaijri, Chief Executive Officer of Golden Falcon Aviation - the exclusive aircraft provider of Wataniya Airways - and Eric Schulz, Airbus Chief Commercial Officer,

Flight Fan-tastic?

The XTI Aircraft Company exhibited a one-third scale model of its planned TriFan 600 aircraft at the inaugural Kuwait Aviation Show in January 2018, as part of the company’s ambitious equity-based crowdsourced funding campaign. Jon

FIA 2018: Qatar Airways finalise order for Five 777 freighters

Boeing and Qatar Airways finalised an order for five 777 Freighters at the 2018 Farnborough International Airshow. The deal, valued at $1.7 billion at current list prices, was announced as a commitment in April.

TAA SK0902311218
See us at
AIME19BTA3005120219GATM BT1004061118MAPS18_BT1207131118Aviation Africa BT0607280219MEBAA BT1004121218BIAS BT271017161118ASDubai BT1004091018Cargo BT1004091018Istanbul Airshow BT22018