Subscribe Free
in Business & Finance

Jazeera Airways announces Q2 2017 financial results

Posted 2 August 2017 · Add Comment

Jazeera Airways has released its second quarter financial results, reporting an operating profit of KD2.2 million, up 22.9% from the same period last year, and a net profit of KD2.3 million, reflecting a growth of 18.1% 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.

 

Q2 2017 Financial and Operational Highlights:

Operating revenue: KD14.0 million, up 9.5% from Q2 2016

Operating profit: KD2.2 million, up 22.9% from Q2 2016

Net profit: KD2.3 million, up 18.1% from Q2 2016

Load factor: 73.3%, up 1.5% from Q2 2016

 

H1 2017 Financial and Operational Highlights:

Operating revenue: KD24.1 million, down 2.4% from H1 2016

Operating profit: KD1.2 million, down 65.2% from H1 2016

Net profit: KD1.3 million, down 77.3% from H1 2016

Load factor: 72.6%, up 0.3% from H1 2016

 

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% in Q2, vs Q216

Improved fleet utilization by 3.4%

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

Started construction of the airlines state-of-the-art dedicated terminal at Kuwait International Airport

Launched a new, simplified brand, a new website

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Emirates anticipates peak arrivals period in upcoming weeks

Travel is expected to reach an all-time high in the upcoming weeks for Emirates, as the airline expects yet another busy period with travellers flocking into Dubai after the summer holidays and Eid breaks.

Ground handling industry failing to take the right action to solve talent and profit challenges

Recent research by RTITB Airside has found that airlines, airports and ground handlers are failing to take the right action when it comes to solving profitability and talent recruitment and retention challenges.

Etihad Airways most punctual Middle Eastern carrier in the first seven months of 2019

Etihad Airways was the most punctual Middle Eastern carrier in the first seven months of 2019.

MEBAA Show Morocco gearing up for September event

Business aviation exhibitors across the world are keen to take advantage of the region’s opportunities by promoting their products and services at the MEBAA Show Morocco, taking place 25-26 September at Marrakech Menara Airport.

DXB welcomes 41.3 million passengers in the first half of 2019

Dubai International (DXB) welcomed 41.3 million passengers in the first half of 2019, maintaining its position as the world’s largest international airport by traffic volume.

Pakistan and India Independence Days celebrated at Abu Dhabi International Airport

Visitors to Abu Dhabi International Airport (AUH) from Pakistan and India were greeted by the green, white and saffron colours of their national flags, and steaming cups of Karak chai, to commemorate the Independence days of the two

TAA SK0907311219
See us at
MEBAAMORBT2006260919BIDEC BT0108301019Dubai AS BT2006211119AVAFA20BT2607050320DIAC19_BT264161119MEBCONBT1607240919