Dubai: Jazeera Airways Group reported a 22.6 per cent jump in the third quarter net profit of 8.1 million Kuwaiti dinar (KD) (Dh102.8 million) on Wednesday.
It is the airline group’s 17th quarter of straight profitability, it said in a statement announcing the results.
Operating profit climbed KD23.1 million, up 15.2 per cent from the third quarter last year. The number of passengers travelling with the airline in the third quarter increased by 10.8 per cent, compared to the same period last year, the airline said.
As of September 30, the group’s revenue for the first nine months of the year increased 3.1 per cent to KD52.4 million, compared to the same period a year earlier. However, net profit for the year so far has slid 7.9 per cent to KD13 million.
“Despite the continued political unrest in several areas of our network, the company managed to deliver the best earnings in the history of our nine-year old airline. That’s not to say that Jazeera Airways wasn’t impacted by the rise of hot spots in our region … some of the destination flights paths had to be rerouted to ensure the safety of our passengers and crews, and that resulted in more flying hours,” stated Marwan Boodai, Jazeera Airways Group Chairman.
Jazeera Airways shares closed down 1.13 per cent to KD4.35 on the Kuwait Stock Exchange on Wednesday.
