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Jazeera Airways Q3 net profit up 24.6%

Nine-month Group net profit jumped 23.6 per cent in the period

Gulf News

Kuwait City: Budget carrier Jazeera Airways said on Tuesday its third-quarter net profit reached 7.6 million Kuwaiti dinars (Dh99.03 million), up 24.6 per cent from the same period a year earlier.

Nine-month group net profit jumped 23.6 per cent in the period, at 11.4 million dinars.

The airline said in a statement that the quarterly performance was its “best in history” and its ninth straight quarter of profitability since third-quarter 2010.

The forecasts for the rest of the year, meanwhile, remain unchanged, as the Kuwait Stock Exchange-listed airline expects to close the year with a “mild” fourth quarter.

Jazeera Airways Group Chairman, Marwan Boodai, said in a statement that the airline’s performance was driven by a strong management and an “agile” business model.

“Two years ago we were a turn-around story, last year we were a sustainable profit story, and today Jazeera Airways is clearly a profit-growth story,” he said in a statement.