Jazeera Airways profits up 23% during Q3

Dino D'Amore
By Dino D'Amore October 23, 2014 20:08

Jazeera Airways profits up 23% during Q3

Kuwait-based Jazeera Airways Group has reported a 22.6% increase in net profit to KD8.1 million ($27.9 million), while revenues rose by 15.2% to KD23.1 million. Operating profit was KD9.1 million, up 17.8% from the corresponding period in 2013. These results represent the airline’s best-ever third quarter.

The airline’s operating profit grew 9.9% to KD15.5 million during the first nine months of the year, but its net profit was down 7.9% to KD13 million.

In a statement Jazeera Airways Group Chairman  Marwan Boodai said: “Despite the continued political unrest in several areas of our network, the company managed to deliver the best earnings in the history of our nine-year old airline.”

He added however that the airline has been impacted by the need to reroute flight paths for safety, which added costs due to the increase flying hours. Nevertheless he said, the airline was able to “absorb the impact in Q3 while registering 10.8% growth in flown passengers and a 22.6% growth in profitability.”

Dino D'Amore
By Dino D'Amore October 23, 2014 20:08