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

Oman Air makes premium comfort amenities in time for Eid Al Adha

Oman Air makes premium comfort amenities available for all on selected flights in time for Eid Al Adha.

Bryan Thompson appointed CEO of Abu Dhabi Airports

Bryan Thompson has been appointed Chief Executive Officer (CEO) of Abu Dhabi Airports.

Etihad Airways and Al Nassr FC announce partnership

Etihad Airways has signed an agreement to be the official shirt and main sponsor and partner of the Riyadh-based, Saudi Stars League team, Al Nassr FC.

Cobalt Air signs multi-year agreement with Travelport

Travelport has signed a new multi-year content agreement with Cobalt Air, which includes the use of the company’s leading merchandising tool, Travelport Rich Content and Branding.

Turkish Airlines sees operating net profit in first half of 2018

Turkish Airlines posted a USD 258 million Operating Net Profit in the first half of 2018.

Mighty task for Hercules in Middle East

Nearly 200 C-130 Hercules aircraft have been operated by Middle East air forces since the first was delivered to Iran in 1962. Alan Warnes reports.

TAA SK0902311218
See us at
MarrakechAirshow BT2507241018MEBAA BT1004121218Aviation Africa BT0607280219ASDubai BT1004091018AIME19BTA3005120219MAPS18_BT1207131118Cargo BT1004091018BIAS BT271017161118Istanbul Airshow BT22018GATM BT1004061118