Jazeera Airways 2023 net profit down 70%

Following a record year in 2022, Jazeera Airways has reported 2023’s full year profit decreasing by 69.5% compared to 2022, standing at $19.92 million; down from $65 million in 2022. Operating profit was also down 56.2% to $38.22 million in 2023, following 2022’s $87 million. However, operating revenue was up 8.8% in 2023 to $643.76 million. “For 2023, we emerged profitable despite lower yields, influenced by overcapacity amid a challenging regulatory, geopolitical, and regional landscape,” said Jazeera Airways chairman Marwan Boodai. “Higher load factors and greater market share put Jazeera Airways in a strong position while we continued to maintain