Chairman Marwan Boodai says airline remained resilient despite challenges, including rising fuel bill
Kuwait-based Jazeera Airways has announced a 42.8 percent jump in passenger numbers to two million in 2018.
The airline's annual revenue rose 45.5 percent to KD82.4 million while reported net profit was KD7.7 million which took into account the impact of "irregular disruptions" that took place during the year.
Load factor on the carrier's aircraft was 75.2 percent, up from 73.9 percent in 2017, a statement said.
Jazeera Airways chairman, Marwan Boodai, said: “2018 was another milestone year for Jazeera Airways as it continued to expand its network by adding seven popular destinations to serve a growing customer-base, especially in the Indian sub-continent.
"Supporting the expansion, we took delivery of the first A320neo in the Middle East and made an order for an additional three of the fuel-saving engine aircraft.
“We also achieved another important milestone in the development of our business model, which is the inauguration of our dedicated terminal at Kuwait International Airport - a significant game-changer for our operations and customer experience.”
Since it started operations in May 2018, all Jazeera Airways passengers flew from the new Jazeera Terminal, which carried more than 1.2 million passengers.
Fuel prices fluctuated considerably in 2018 but on average, the price of fuel was 30 percent higher than that of 2017, the statement said, adding that the regional landscape remained "highly competitive".
Boodai said: “Jazeera Airways remained resilient despite these challenges and maintained zero debt by year end. We look forward to 2019 to continue expanding our network to new destinations in Europe, India, Pakistan, Bangladesh and the Gulf. The expansion will be supported with the delivery of three new A320neo aircraft, as part of a plan to increase our fleet in the coming years.”
Jazeera Airways flies to 27 destinations across the Middle East, India and Europe.