Subscribe Free
in Business & Finance

Jazeera Airways announces Q3 2017 financial results

Posted 31 October 2017 · Add Comment

Jazeera Airways KSC has released its financial results for the third quarter.

The company reported an operating profit of KD8.3 million, up 37.8% from the same period last year, and a net profit of KD8.2 million, reflecting a growth of 35.6%, despite a 25% increase in fuel costs during for the year. Jazeera’s double digit growth for two quarters in-a-row was driven by new route launches, a healthy summer season, investments in customer experience, and robust cost management.

Q3 2017 Financial and Operational Highlights:

        Operating revenue: KD21.9 million, up 16.8% from Q3 2016

        Operating result: KD8.3 million, up 37.8% from Q3 2016

        Net result: KD8.2 million, up 35.6% from Q3 2016

        Load factor: 80%, up 13.4% from Q3 2016

 

9M/YTD 2017 Financial and Operational Highlights:

        Operating revenue: KD46.0 million, up 5.9% from YTD 2016

        Operating result: KD9.5 million, up 0.4% from YTD 2016

        Net result: KD9.5 million, down 20.3% from YTD 2016 (9M/YTD 2016 net results included a one-off KD 2.4 million transfers from foreign currency translation reserve that were reclassified to Statement of Income)

        Load factor: 75.5%, up 5.5% from YTD 2016

 

Jazeera Airways Chairman Marwan Boodai said: “Over the last two years we’ve invested heavily into initiatives to enhance and streamline our customers’ experience, both on ground and in the air. Today, with our second consecutive quarter of double digit growth we are beginning to see the positive returns of these investments on our bottom line. On the network front, the next two quarters are equally exciting. We’re launching five new destinations in November and December, while we continue to develop our exclusive terminal at Kuwait International Airport to accept its first passenger in Q1, 2018. Our outlook for the last quarter of the year is in line with historic Q4 trends for the regional travel sector, when we typically see demand picking up towards the second half of December”

* required field

Post a comment

Other Stories
Latest News

Emirates introduces A380 on Riyadh route

Emirates is introducing the first scheduled Airbus A380 service to Riyadh, effective 21 April 2019. Riyadh will be the 51st destination to join the Emirates A380 network.

Rolls-Royce Tay 611-8 engine achieves 10 million flying hours

The Rolls-Royce Tay 611-8 engine, which entered service in 1987, recently reached 10 million flying hours in nearly five million flights.

Airbus will participate at Turkey’s IDEF 2019

Airbus will attend Turkey’s IDEF 2019, 14th International Defence Industry Fair, held in Istanbul from April 30 to May 3.

Export Bahrain partners with Gulf Air Cargo to offer special discounts on cargo exports

Export Bahrain has signed an exclusive partnership with Gulf Air’s Falcon Cargo to provide SMEs in the Kingdom of Bahrain, exporting their goods to the tune of 100 kilograms or above, with special discount of up to 40% on their cargo

Could Al Ain be the UAE’s sleeping superstar?

Al Ain International Airport is poised for growth – cargo is already expanding and the search is on for more passenger traffic, as Alan Dron discovered.

EgyptAir takes delivery of second B787-9 Dreamliner

EgyptAir’s second B787-9 Dreamliner has arrived today at Cairo International Airport. The aircraft is slated to operate flights from Cairo to Frankfurt by April 22nd.

ASU SK0603060619
See us at
Connect MEIA BT1402010519ACCA19_BT2141218280219