Home >> Travel & Tourism

Jazeera Airways announces Q2 2017 financial results, reports double digit growth in operating and net profits and an 8-year record in flown passengers

Wednesday, August 2, 2017/ Editor -  


Home >> Travel & Tourism
Dubai, UAE, August 2, 2017:  Jazeera Airways today announced its second quarter financial results, reporting an operating profit of KD2.2 million, up 22.9% from the same period last year, and a net profit of KD2.3 million, reflecting a growth of 18.1% from the same period last year. Jazeera Airways’ positive results were driven by higher utilization, improved network planning, and a strong demand for travel during the quarter, which was airline’s best second quarter by flown passengers since Q2 2009. 
Q2 2017 Financial and Operational Highlights: 
  • Operating revenue: KD14.0 million, up 9.5% from Q2 2016
  • Operating profit: KD2.2 million, up 22.9% from Q2 2016
  • Net profit: KD2.3 million, up 18.1% from Q2 2016
  • Load factor: 73.3%, up 1.5% from Q2 2016
H1 2017 Financial and Operational Highlights: 
  • Operating revenue: KD24.1 million, down 2.4% from H1 2016
  • Operating profit: KD1.2 million, down 65.2% from H1 2016
  • Net profit: KD1.3 million, down 77.3% from H1 2016
  • Load factor: 72.6%, up 0.3% from H1 2016
Jazeera Airways Chairman Marwan Boodai said, “I am pleased to report to our shareholders that we are on track towards increasing shareholder value. The company’s double digit growth at both the operational level and the net level reflects this ongoing commitment.” 
“Our half-year results, however, were pulled down by Q1’s earnings due to a host of external factors, most notably a slowing macroeconomy and the continued overcapacity on our routes. But the turn-around we saw in the airline’s performance in Q2 is very encouraging and we are well-positioned to sustain this positive performance in the coming quarters on the back of a series of customer-focused initiatives that we’ve been announcing for the past year. Currently, our team is focused on digitizing, maximizing, and monetizing Jazeera Airways even more. Earlier this week we launched our new brand, along with a reengineered, which now has a strong e-commerce infrastructure tasked with delivering a faster and more rewarding experience for our customers. Our team is also working hard to further optimize our route network, to increase utilization of our fleet, to add new routes in the coming quarters, and to deliver the state-of-the-art dedicated terminal at Kuwait International Airport, which we promised to launch in the first quarter of next year.”
H1 Business Highlights
  • Launched two new routes: Baku and Doha
  • Improved yield per passenger by 4.7% in Q2, vs Q2’16
  • Improved fleet utilization by 3.4% 
  • Strengthened the commercial team with new senior hirings in revenue management, network planning, and e-commerce operations
  • Started construction of the airline’s state-of-the-art dedicated terminal at Kuwait International Airport
  • Launched a new, simplified brand, a new website

Previous in Travel & Tourism

Next in Travel & Tourism

Home >> Travel & Tourism Section

Latest Press Release

Hamilton's Khaki Aviation X-Wind line heads for new heights as the brand launche ...

New watches and NATO makeovers: OMEGA at Baselworld

Mother of the Nation Festival opens today

Korean beauty brand ETUDE HOUSE now open at Dubai Mall

Al Furat to set up AED 20 million auto body building unit

Medical ethics concerning women's health to be highlighted at the upcoming Dubai ...

du Wins ‘Satellite Services Innovation of the Year' at 2018 Digital Studio Award ...

Meet the ISSA 2 FOREO's New Generation Revolutionary Toothbrush

Abu Dhabi Convention Bureau Takes International Concrete Professionals on Site V ...

Join Dubai Festival City Mall and others all over the world by turning off your ...

The first helipad cinema in Dubai to screen Disney classics, Frozen, Moana and T ...

Mark Zuckerberg tells CNN he is 'happy to' testify before Congress

Masdar celebrates fifth anniversary of flagship Middle East solar energy project ...

Saif Al Ameri Keeps His Nerve to Win Season Four of TRD 86 Cup

IoT Middle East 2018 brings connectivity to the forefront


ICAEW: 2018 is a turning point for Middle East economies

Etisalat AGM Approves Full-year 2017 Dividends of 80 fils per Share

Skyline University College Organized 11th CEO Lecture Series

SCTDA Marhabtain-Renewal Training Program