Kuwait's Jazeera 'optimistic' over 2013 growth

Marwan Boodai, chairman of Jazeera Airways.

Marwan Boodai, chairman of Jazeera Airways.

Kuwait's Jazeera Airways said on Tuesday it was optimistic it will exceed its business plan targets this year following a record-breaking year in 2012.

Group chairman Marwan Boodai said in a statement that Jazeera had the "ideal business structure" to see another year of growth.

In 2012, the airline posted an eight percent increase in revenue of KD62.2m with net profit rising 32 percent to nearly KD14m.

"Like 2011, 2012 was another record-breaking year in every sense. This performance continued to be driven directly by a healthy, growing, profitable and sustainable airline business, and a reliable and consistent leasing business," said Boodai.

He added: "For the airline, we operate a regional network where the average flight time is 2.25 hours. This market is always in demand and has repeatedly shown it can withstand political, weather, and financial shocks.

"I am very optimistic that we will continue to witness growth and perform towards meeting and hopefully exceeding our business plan targets to the satisfaction of our stakeholders and business partners.

"Today, with the right funding in place, both the airline and leasing business lines have been successfully complementing each other for three years now. I can truly say that we have the ideal business structure as proven by the impressive results. Simply said; A bright future is awaiting us," Boodai told shareholders.

Jazeera Airways operates a network of destinations including Dubai, Bahrain, Beirut, Alexandria, Amman, Istanbul, Sharm El Sheikh, Assiut, Luxor, Mashhad, Sohag, Jeddah, Riyadh, Cairo and Al Najaf.

Established in 2005, the airline has 12 Airbus A320s in operation.

Related:
Topics
Companies

Market Performance

Jazeera Airways
900.0
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: mumeen

Excellent. Very impressive indeed. Hope Kuwait Airways can be made profitable under Jazeera's ownership.

All comments are subject to approval before appearing

Further reading

Features & Analysis
Boeing mulls larger engine for biggest 737 MAX

Boeing mulls larger engine for biggest 737 MAX

Aircraft manufacturer looking at pair of mid-market jets with...

Changing course: Flynas CEO Paul Byrne

Changing course: Flynas CEO Paul Byrne

For nearly a decade, Saudi Arabia’s second airline struggled...

New era for Saudi Arabia's aviation sector

New era for Saudi Arabia's aviation sector

Saudi Arabia’s aviation market has been one of the most highly...

1
Most Discussed
sponsoredTracking