Jazeera incurs nearly $39mn losses for H1

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KUWAIT CITY, Aug 11: The Kuwaiti airlines company, Jazeera Airways, declared on Wednesday incurring KD 11.7 million (some USD 38.9 million) worth of losses H1 2021. The company said in a statement results of Q2 2021 showed net profits amounting to KD 6.5 million (USD 21.6 million) due to decline of returns per seat in addition to the increase of operating scheduled fl ights as compared to the first period last year, thus operating costs rose along with fuel prices.

Operating and financial performance for Q2 this year rose by 137.7 percent with respect of passengers’ numbers, along with occupancy amounting to 51.3 percent, while operating returns for H1 this year amounted to KD 15.6 million (USD 51.8 million). These positive operating results have emitted positive signs as to the recovery of the travel sector at a paste higher than forecast, where demand has become robust with easing of covid-related constraints as of middle of the year Q3 and speeding vaccination in Kuwait. Al-Jazeera Co. was established in 2004. It was listed in the Kuwaiti bourse in 2008. It has a capital of KD 22 million (USD 73 million). (KUNA)

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