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
Advertisement
Latest News

Private - at a price

Private aircraft ownership comes with its own set of considerations, all focused on maintaining airworthiness through planned and unplanned events. Chuck Grieve spoke to leading Middle East maintenance, repair and overhaul (MRO)

Middle East and North Africa business aviation association attracts new board members

Ali Alnaqbi, founding & executive chairman of the Middle East and North Africa Business Aviation Association (MEBAA) has welcomed a host of senior industry figures to the organisation he founded in 2006.

Jet Aviation signs preferred handling agreement with Excellent Air

Jet Aviation has signed a preferred Fixed Base Operation (FBO) service agreement with Excellent Air, which operates Europe’s largest fleet of Cessna CJ2 aircraft as-well-as several Cessna XLS aircraft based in Germany.

Play it, SAMI

A huge new player has emerged in the aerospace defence world. Alan Warnes finds out more.

Satcom Direct names Evgeniy Pashkov regional director EEMEA

Satcom Direct, the business aviation solutions provider, has appointed Evgeniy Pashkov as regional director for EEMEA.

USD 1.8 trillion global investment needed for aviation infrastructure modernisation by 2030

The required modernisation of aviation infrastructure expansion, development, and modernisation to cater to anticipated increase in passenger and freight air traffic demand will reach USD 1.8 trillion by 2030.

TAA SK0902311218
See us at
SaudiAirshowBT0711140319Aviation Africa BT0607280219AIME19BTA3005120219MEBAA BT1004121218