Jazeera Airways Group announced today a record net profit of KWD14.1 million, making the first nine months of 2013 the airline’s most profitable nine-month period in history.
The group’s operating revenue amounted to KWD50.8 million, up 4.4% compared to the same period a year earlier. Operating profit reached KWD17.2 million, up 13.1% from 2012. Net profit increased 23% to KWD14.1 million.
“Despite the political unrest in some parts of our network for the last three quarters and the holy month of Ramadan impacting this year’s summer travel trends, we were still able to carry more passengers than last year and at higher average yields resulting in increases in most of our financial KPIs,” Jazeera Airways Group Chairman, Marwan Boodai, said, “Our YTD net profit was up 23%, our YTD revenue was up 4.4%, our YTD operating profit was up 13.1%, and our YTD flown passengers figure was up 1.2%.”
Jazeera Airways operated the first three quarters of 2013 with an average load factor of 70% and with a 4.2% increase in average yield compared to the first three quarters of 2012.
Established in 2005, Jazeera Airways Group is a Kuwait Stock Exchange-listed company with a fleet of 13 fully-owned Airbus A320s, distributed between its airline business, Jazeera Airways (seven aircraft), and its fully-owned leasing-arm Sahaab Aircraft Leasing (six aircraft).
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