Jazeera Airways reports growth in half-year net profit and revenue as it flew nearly 900,000 passengers
Kuwait-based Jazeera Airways on Tuesday reported growth in half-year net profit and revenue as it flew 50 percent more passengers.
The airline posted 43 percent growth in revenue and a 6.4 percent increase in net profit for the first six months of the year.
Passenger numbers rose to nearly 900,000 in the same period following a series of route launches and added capacity, the carrier said, adding that load factor also increased by 2.8 percent to 74.7 percent.
Jazeera Airways chairman Marwan Boodai said: “Despite the hike in fuel prices during the first half of the year and a volatile competitive landscape that depressed yields, we are pleased to see the efforts and investments throughout 2017 and 2018 are delivering results and attracting more people to fly Jazeera AIrways.
"So far in 2018 we’ve added two Airbus A320 aircraft to our fleet... we have successfully launched our very own terminal at Kuwait International Airport, the first passenger terminal owned by an airline in the Middle East and we introduced five new routes."
He added: "The rest of the year is looking promising with a very active summer season.”