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

How technology is making aviation safer

Kevin Riordan, head of airports & checkpoint solutions at Smiths Detection, talks about the various technologies that will dominate airport security over the next decade and the impact they are likely to have on the overall customer

Oman Air CEO comments on impact of Boeing 737 MAXs grounding of the airline

Abdulaziz Al Raisi, chief executive officer of Oman Air, has said that the grounding of the 737 MAXs has had a major financial impact on Oman Air.

Etihad Airways celebrates 15 years of service to Germany

The airline launched daily flights between Abu Dhabi and Munich in June 2004. Munich and the Swiss city of Geneva both received their first Etihad flights in that month, making them the first two destinations served by the airline in

Emirates introduces its First-Class cabin in Durban

Emirates has introduced its First-Class cabin in Durban, in conjunction with the airline’s seasonal frequency increase of four additional flights a week, bringing the airline’s award-winning, luxury travel experience to the

Oman Air cabin crew in brand new style uniform

Oman Air cabin crew will step out in their brand new Oman Air uniforms this week.

Etihad Airways introduces new Boeing 787-10 Dreamliner on Rome route

Etihad Airways has introduced its newest aircraft type, the Boeing 787-10 Dreamliner, on daily services to Rome.

Luxivair SK2404240719
See us at
DIAC19_BT264161119ACCA19_BT_2404091019