Monday 18 February 2019

Jazeera Airways YTD profit slips 9.7pc

KUWAIT, October 31, 2016

Kuwait-based Jazeera Airways has reported a net profit of KD12 million ($39.4 million) for the first nine months of the year, down 9.7 per cent from the same period in 2015.

Year-to-date operating revenues were recorded at KD43.5 million, down 8.8 per cent from the first nine months last year. However, passenger numbers rose 2.6 per cent and load factor jumped 1.8 per cent compared to the same period in 2015. Moreover, on-time performance was registered at 90.1 per cent.

The airline also recorded declines in the third quarter of the year, as operating revenues dipped 10.6 per cent to KD18.8 million and net profit slid 27.1 per cent to KD6.0 million compared to Q3 2015.

Jazeera Airways chairman Marwan Boodai said: “Our earnings for the quarter came in less than expected even though we carried more passengers and we lifted our load factor, however the pressure on yields due to low oil prices and a host of other factors continued through the third quarter. With that said, our product development program is expected to boost our ancillary income and our overall differentiation factors once completed by next year.”

The Next Big Thing

The Next Big Thing is a series of new ambitious and game-changing initiatives that will boost Jazeera Airways’ offering, reinforce its brand, and attract and retain more customers in 2016 and beyond. Below is a glimpse into the four new initiatives and how they will transform Jazeera Airways’ offering.

Park ‘n’ Fly remote check-in and long-term parking - Operational as of September 2016

Launched in Q3 2016, state-of-the-art check-in facility located two minutes away from the airport to serve as a second option for flight check-in. Operational today, the facility is a single-stop remote check-in facility with valets for both short-term and long-term parking and luggage assistance. Once travelers and their luggage are checked in, they will be shuttled to the terminal where they can proceed directly to passport control, thus completely bypassing the hassle of navigating Kuwait International Airport's parking and check-in congestion.

Exclusive Business Class lounge with a view - Operation as of July 2016

Launched in Q3 2016, Jazeera Airways Business Class travelers now enjoy an exclusive access to newest lounge at Kuwait International Airport, and the only lounge at the airport with a direct and unobstructed view of the tarmac. High-speed internet, comfortable seating, food, and drinks are offered at the lounge.

Jazeera Airways Long-Haul

Jazeera Airways is currently looking to expand its network to include key long-haul destinations by partnering with an international operator. Though still in its early stages, the airline confirms  the new routes will be non-stop and offered through a true partnership with a global airline.

Jazeera Airways Terminal

The airline is in an advanced planning stage to establish a dedicated terminal at Kuwait International Airport, which will help Jazeera Airways better serve its travelers and help relieve the congestion at the country’s single-terminal airport. - TradeArabia News Service

Tags: profit | Net | Jazeera | Q3 | YTD |

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