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Wed 25 Apr 2018 03:30 PM

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Kuwait's Jazeera Airways sees Q1 loss despite 42% revenue jump

Passenger numbers in the first three months of 2018 totalled 403,863, up 43.1%

Kuwait's Jazeera Airways sees Q1 loss despite 42% revenue jump

Kuwait-based Jazeera Airways on Wednesday announced double digit growth in both revenue and flown passengers in the first quarter of 2018.

The airline recorded an operating revenue of KD14.3 million, up 42.7 percent from Q1 2017, and a net loss of KD0.3 million, an improvement of KD0.636 million from Q1 2017.

Passenger numbers in the first three months of 2018 totalled 403,863, up 43.1 percent from the year-earlier period.

Load factor on flights reached 75.8 percent, up 5.4 percent from Q1 2017, the airline added in a statement.

Jazeera Airways chairman Marwan Boodai said: “Despite the first quarter being a low travel season historically, we saw a 43.1 percent increase in flown passengers this year, a 42.7 percent growth in topline earnings, and significant improvement in our bottom line earnings.

"Looking head, the rest of the year is looking incredibly exciting for our business with our very own dedicated terminal coming on-line in mid-May, in addition to new routes, and new additions to the fleet."

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