Jazeera Airways Posts First Quarter Loss

Jazeera Airways, a Kuwait-based low-cost carrier, has posted a first quarter loss of KD0.3 million. The carrier actually posted a first quarter (1Q) loss in the same period the previous year however the loss this year is a 67% improvement from 2017. Last year, the low cost carrier saw a loss of KD0.95 million. 

 (Photo by ch-aviation.com)

Jazeera Airways chairman, Marwan Boodai said, “Despite the first quarter being a low travel season historically, we saw a 43.1% increase in flown passengers this year, a 42.7% growth in topline earnings, and significant improvement in our bottom line earnings”. Passenger numbers for the 1Q came to 404,000 and the average load factor on its flights to 75.8% up from 71.9% in 2017. Marwan Boodai added, “Looking ahead, 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”.

(Photo by skytraxratings.com)

With a fleet of 7 Airbus A320-200s and 2 more on order, Jazeera Airways is expanding rapidly. Not only does the airline already serve 20 destinations across the Asian continent, Middle East and Europe, the carrier is the second largest airline, in Kuwait after Kuwait Airways. In addition to that, Jazeera Airways has beaten Kuwait Airways in the number of aircraft movements by 4%. 

(Photo by arabianbusiness.com)