Kuwait’s Jazeera Airways posted a net profit of 7.8 million Kuwaiti dinars for the first half of 2022, compared to a net loss of 11.7 million dinars in the year-ago period. Total revenue for the period reached 77.6 million dinars, up four times from the comparable period, while operating profit stood at 9.8 million dinars, up 187 per cent.
The results came as the company carried its highest ever number of passengers in the second quarter at 817,000, bringing the total for H1 2022 to a record of 1.5 million as travel activities gradually returned to pre-pandemic levels. Correspondingly, load factor reached 74 per cent for the first half of the year, up 19.3 per cent.
“Our forecasts and expectations for the first half of the year were very accurate as passengers’ appetite to travel was met with a return of travel capacity at Kuwait International Airport since the second half of last year. Jazeera has placed itself well to reap the benefits of the new market dynamics and was able, through its constant communication with its passengers and its analysis of the market, to return stronger than before. We launched new tourist destinations and started services to high traffic ones and will continue our growth and progress throughout the coming quarters,” said Jazeera Airways Chairman Marwan Boodai.