RSS
 Add News     Print  
Article List
Jazeera Airways posts KD 2.1 mln profit in Q1 ‘Group sees strong growth this year’

KUWAIT CITY, April 21, (KUNA): Jazeera Airways on Monday announced net profits of KD 2.1 million ($7.4 million) for the first quarter of 2014. Jazeera Airways Group Chairman Marwan Boodai said in a statement the group’s revenues hit KD 13.8 million ($49 million) in the first quarter of this year, down 6.1 percent from the same period last year. Jazeera Aiways’ operating profits amounted to KD 2.8 million ($7.4 million) in the reported period, down 37.6 percent from the first quarter of 2013, while its hard assets hit KD 157 million ($5.5 million), he added. Commenting on the profits, he said: “Our results this year constitute the highest Q1 earnings in the history of the Group, second to only 2013’s Q1 results, which was an exceptional quarter as we reported last year”.

Our outlook for the year remains unchanged and we expect to register bottom line growth driven by an exceptional summer season with the holy month of Ramadan falling earlier in the season. We look forward to another growth year reinforced by investments in our product, investments that will bolster the on-ground experience and clearly distinguish Jazeera Airways from competitors,” he remarked. In addition to its on-ground investment, Jazeera Airways also announced it will begin serving Istanbul through the city’s primary airport, Istanbul Atat¸rk Airport (IST), with five flights a week starting from May 2nd 2014 instead of the Sabiha GokÁen International Airport (SAW), to which the airline has served since 2008, Boodai noted.

The airline will also increase its service to Al Maktoum International Airport at Dubai World Central (DWC) to daily flights, starting from May 1st, 2014, he said, adding that the service complements scheduled daily flights to Dubai International Airport. Jazeera Airways is based in Kuwait and operates a network comprising high-demand business, leisure, family, and weekend destinations such as Dubai, Bahrain, Beirut, Alexandria, Amman, Istanbul, Sharm El Sheikh, Assiut, Luxor, Mashhad, Sohag, Jeddah, Riyadh, Cairo and Al Najaf. Jazeera Airways is an IATA-member airline and operates one of the youngest Airbus A320 fleets in the Middle East.

  



 

Read By: 2763
Comments: 0
Rated:

Comments
You must login to add comments ...
About Us   |   RSS   |   Contact Us   |   Feedback   |   Advertise With Us