Posted inStocks

Jazeera air shares to list in September

The low-cost carrier expects Kuwait listing later this year; no new shares will be sold.

Low-cost air carrier Jazeera Airways expects to list shares on the Kuwait stock exchange in September, a spokesman said on Wednesday.

In September, Jazeera’s shareholders approved a plan to double the firm’s capital to 20 million dinars ($69 million) by selling stock to existing shareholders. No new shares will be sold in the market debut.

The airline, which made its first flight on Oct. 30, 2005, is still considering a listing in regional commercial hub Dubai, the spokesman said.

Jazeera Airways reported a net profit of $8.7 million for 2006, its first year of operations.

Jazeera would be the second Middle Eastern airline to list its stock after UAE-based Air Arabia, sold shares to the public in April.

Follow us on

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.