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Industry: Shipping
Location: Dubai, UAE -
Commercial Manager - Logistics
Industry: Shipping
Location: Dubai, UAE
Jazeera predicts revenues of $200mn in '08
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 19 May 2008
Kuwaiti budget carrier Jazeera Airways expects to post revenues of at least 52.05 million Kuwaiti dinars ($195.4 million) this year, its chairman and CEO told magazine Arabian Business on Monday.
“We expect revenue growth of at least 50% this year," Marwan Boodai said, speaking on the sidelines of the World Economic Forum (WEF) on the Middle East in Sharm El-Sheikh, Egypt.
The airline, which is listed Kuwait Stock Exchange, saw operating revenues rise 61.2% to 34.7 million dinars in 2007, while net profit for the year was 2.29 million dinars.
Revenues last year were boosted by doubling of passengers year-on-year and a 12% rise in load factors over the same period.
Jazeera said on Sunday first quarter rose 42% over the year-ago period to 745,815 dinars, while operating revenues increased 46% to 10.8 million dinars over the same period.
Jazeera Airways operates a fleet of six Airbus A320s from hubs in Kuwait and Dubai to destinations across the Middle East, Europe, Iran, North Africa, and the Indian Subcontinent.
The airline has a firm order for 34 additional aircraft to be delivered over the coming years with the last fleet installment scheduled for delivery in 2014.
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