Jazeera Airways profits rise

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By TESTCustomwebLP TESTCustomwebLP January 29, 2014 20:45

Jazeera Airways profits rise

Kuwait’s Jazeera Airways Group has posted a net profit of KD 16.7 million for 2013 despite ongoing regional political unrest and fuel price volatility.

“The year 2013 was an eventful year,” said Jazeera Airways Chairman Marwan Boodai.”In addition to sustaining good results for three years in a row, we were able to secure our funding for three aircraft, essentially closing our lending requirements for two years, we were able to reduce the Group’s debt to equity ratio from 1.7 in 2012 to 1.4 in 2013, and to close the year with the best performance in the Group’s history.”

Jazeera’s operating revenues rose 4.7% to KD 65.6 million in 2013, while operating profits rose by 11.4% to KD 20.5 million. The average yield per seat jumped by 5.1%compared to the figure for 2012.

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By TESTCustomwebLP TESTCustomwebLP January 29, 2014 20:45
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