Kuwait-based Jazeera Airways has reported an operating revenue of KD63.7 million ($209 million) during the first the months (9M) of the year, marking a 38.4 per cent growth year-on-year (y-o-y), and welcomed 1.5 million passengers, a rise of 44.5 per cent y-o-y.
The company’s net profit stood at KD8.5 million for the first nine months of 2018, down 11.2 per cent from the same period of 2017. The airline reported a 76.8 per cent increase in load factor, up from 75.5 per cent 9M 2017.
For the third quarter (Q3) of the year, operating revenue was KD29.2 million, up 31.7 per cent from Q3 2017, while net profit was KD7.0 million, down 14.1 per cent from Q3 2017.
Jazeera Airways chairman Marwan Boodai said: “Operationally, fuel prices continued to increase in Q32018, rising by 35 per cent from Q3 2017, and the competitive landscape remained strong. However, despite these challenges, our investments in expanding our offering and network continued to yield positive results.
“We ended the third quarter with zero debt. We tapped into a new segment of customers by launching new destinations to the Indian subcontinent, Tbilisi and Madinah, all while enhancing the travel experience through our dedicated terminal at Kuwait International Airport, the first passenger terminal owned by an airline in the Middle East. During the year, Jazeera Airways also took delivery of an A320 and the first A320neo to be delivered in the Middle East.”
The airline operated in Q3 2018 its first full quarter from its new dedicated terminal, which carried 795,218 passengers since its inauguration. The Duty Free received final permits and started operations in October 2018. The airline also launched the Ride & Fly service enabling passengers to take a shuttle from various locations in Kuwait, register their luggage and check-in on-board the shuttle.
On routes serving its new destinations, Jazeera Airways grabbed a 50 per cent market share on Kuwait-Tbilisi, 41 per cent on Kuwait-Lahore, 51 per cent on Kuwait-Ahmedabad, 19 per cent on Kuwait-Mumbai, 32 per cent on Kuwait-Kochi and 8.2 per cent on Kuwait-Madinah.
Boodai concluded: “In the last quarter of the year, demand is expected to pick up during the end of year seasonal holidays in line with travel trends. Jazeera Airways also prepares to launch a new route ahead of the travel season, serving the Indian capital, New Delhi, while new retails offerings continue to open at our dedicated terminal.”
Jazeera Airways flies to 26 popular destinations across the Middle East, India and Europe comprising high-demand business, leisure, family and weekend destinations such as Dubai, Bahrain, Beirut, Alexandria, Amman, Istanbul, Sharm El Sheikh, Assiut, Luxor, Mashhad, Sohag, Jeddah, Riyadh, Madinah, Cairo, Al Najaf, Taif, Doha, Kochi, Mumbai, Hyderabad, Ahmedabad, Lahore, Baku and Tbilisi.
The airline operates a fleet of Airbus A320s and an Airbus A320neo, the first to be owned and operated in the Middle East. – TradeArabia News Service
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