Jazeera Airways to offer 178m shares Shares to be priced at 100 fils each

KUWAIT CITY, Dec 9, (Agencies): Jazeera Airways will offer 178 million shares in a capital increase starting on Monday, the Kuwaiti group said in a bourse filing on Sunday. The shares will be priced at 100 Kuwaiti fils ($0.36) each with no premium and the closing date for offers is Dec. 31, the statement said. Jazeera Airways issued last week its October 2012 Operational Performance Report which showed that the airline has grabbed increasing market shares to popular destinations of Amman, Cairo and Beirut. The report, which presents market share figures based on official statistics from Kuwaitís Directorate General for Civil Aviation (DGCA), also showed that the airline continued to have market share lead on key routes, and a continued lead in on-time performance (OTP) against all other airlines in the Middle East as ranked by the independent US-based OTP tracker FlightStats.

The airline’s OTP for the month was 94%, making Jazeera Airways the most punctual airline in the Middle East for the 22nd month in-a-row according to FlightStats. The report also showed that Jazeera Airways grabbed a 38% market share on the Kuwait-Amman route, up 6% from October 2011. Jazeera Airways was once again the leading Kuwaiti airline on the route. The airline also saw a 42% increase in number of passengers on the route, compared to October 2011. The airline grabbed a 28% market share on the Kuwait- Cairo route, a 4% increase in market share from October 2011, accompanied by an39% increase in number of passengers on the route, compared to October 2011.

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