Business | Aviation
Expansion helps Jazeera Airways post net profit of 2.29m dinars
Jazeera Airways, the Kuwait-based budget airline, on Tuesday reported a 2.29 million dinar net profit on operating revenues of 34.7 million dinars for 2007, an increase of 61.2 per cent over operating revenues of 21.5 million dinars for 2006.
- Staff Report
- Published: 17:33 March 18, 2008
Dubai: Jazeera Airways, the Kuwait-based budget airline, on Tuesday reported a 2.29 million dinar net profit on operating revenues of 34.7 million dinars for 2007, an increase of 61.2 per cent over operating revenues of 21.5 million dinars for 2006.
"The year 2007 was one of rapid growth for Jazeera Airways," the airline said in a statement.
"In April it launched its second hub in Dubai, enabling it to cater to Dubai residents by offering nonstop flights to high demand destinations such as Bahrain, Kochi, Mumbai, Delhi, Salalah, Muscat, the Maldives and Beirut.
"By the year's close, the airline had flown 1.2 million passengers, doubling the number of passengers in 2006, at a load factor of 74 per cent - a growth of 12 per cent over 2006," it said.
Jazeera Airways chairman and chief executive officer Marwan Boodai said: "2007 was a great year despite the record fuel prices. We invested heavily in growing our hubs, network operations and increased frequencies, and we saw the return on our investment in the fourth quarter 2007 and so far this year."
Frequencies
Boodai added that the increased revenue was also a direct result of increasing frequencies between some of the network's most popular routes, with the launch of daily flights between Dubai and Beirut, and Dubai and Mumbai. In addition, the airline boosted services from Kuwait, with up to five daily flights to Dubai and four daily flights to Bahrain.
"Strengthening our network through new destinations such as Istanbul and increased frequencies will enable us to retain our competitive edge, win an even greater share of the market and ensure an even more profitable 2008. This will happen through more choice and an improved Jazeera Airways experience for our travellers - that is our focus for 2008," said Boodai.
Jazeera Airways operates a fleet of six new Airbus A320 aircraft, all fitted with the airline's signature leather seats.
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