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

Gulf Air adds Maldives as it welcomes its third Airbus 320neo

Gulf Air has welcomed the airline’s third Airbus A320neo, which on October 26 will begin operating to Gulf Air’s newest destination – Male in the Maldives.

Etihad release statement on airspace restrictions

Following the decision of the US Federal Aviation Administration to restrict US airline operations in Iranian-controlled airspace, Etihad Airways has consulted with the UAE General Civil Aviation Authority and other UAE airlines to

SITA celebrates 70th anniversary with record US$1.7 billion revenue

More than 100 of the world’s airlines and airports gathered in Belgium last week as SITA, the air transport IT provider, celebrated its 70th anniversary.

Abu Dhabi Airports achieves CIPS Advanced Level

Abu Dhabi Airports has secured a Procurement Excellence Gold Award from the internationally recognised Chartered Institute of Procurement and Supply (CIPS), following its completion of a comprehensive award submission.

Etihad bolsters flight safety with SITAONAIR's eWAS Weather Awareness Solution

Etihad Airways has bolstered flight safety by choosing to deploy SITAONAIR’s rich and intuitive EFB Weather Awareness Solution, eWAS, across more than 100 aircraft.

Qatar Executive expands its fleet with two Gulfstream Jets

Qatar Executive has delivered two new state-of-the-art Gulfstream jets.

ACCA19_SK0201080919
See us at
Dubai AS BT2006211119ACCA19_BT_2404091019MEBAA BT2006260919DIAC19_BT264161119