Subscribe Free
in Business & Finance

Jazeera Airways announces Q3 2017 financial results

Posted 31 October 2017 · Add Comment

Jazeera Airways KSC has released its financial results for the third quarter.

The company reported an operating profit of KD8.3 million, up 37.8% from the same period last year, and a net profit of KD8.2 million, reflecting a growth of 35.6%, despite a 25% increase in fuel costs during for the year. Jazeera’s double digit growth for two quarters in-a-row was driven by new route launches, a healthy summer season, investments in customer experience, and robust cost management.

Q3 2017 Financial and Operational Highlights:

        Operating revenue: KD21.9 million, up 16.8% from Q3 2016

        Operating result: KD8.3 million, up 37.8% from Q3 2016

        Net result: KD8.2 million, up 35.6% from Q3 2016

        Load factor: 80%, up 13.4% from Q3 2016

 

9M/YTD 2017 Financial and Operational Highlights:

        Operating revenue: KD46.0 million, up 5.9% from YTD 2016

        Operating result: KD9.5 million, up 0.4% from YTD 2016

        Net result: KD9.5 million, down 20.3% from YTD 2016 (9M/YTD 2016 net results included a one-off KD 2.4 million transfers from foreign currency translation reserve that were reclassified to Statement of Income)

        Load factor: 75.5%, up 5.5% from YTD 2016

 

Jazeera Airways Chairman Marwan Boodai said: “Over the last two years we’ve invested heavily into initiatives to enhance and streamline our customers’ experience, both on ground and in the air. Today, with our second consecutive quarter of double digit growth we are beginning to see the positive returns of these investments on our bottom line. On the network front, the next two quarters are equally exciting. We’re launching five new destinations in November and December, while we continue to develop our exclusive terminal at Kuwait International Airport to accept its first passenger in Q1, 2018. Our outlook for the last quarter of the year is in line with historic Q4 trends for the regional travel sector, when we typically see demand picking up towards the second half of December”

* required field

Post a comment

Other Stories
Advertisement
Latest News

TAV Airports revenue reached EUR 1.1 billion in 2017

TAV Airports Holding increased passengers served 10% and reached 115 million.

Double honours for Emirates Group Security and Transguard

Emirates Group Security and Transguard have cemented their industry leadership position by clinching two accolades at the 16th edition of the Sheikh Khalifa Excellence Awards (SKEA).

Algerian minister confirms bids submitted re cargo market tender

Algerian Minister of Public Works and Transport, Abdelghani Zaalane, has confirmed that four bids have been submitted to government regarding the proposed liberalisation of the country's air cargo market, reports ch-aviation.

Qatar Airways Airbus’ A350-1000 arrives in Doha

The largest A350 XWB customer has taken first delivery of Airbus’ largest version of the jetliner – the A350-1000.

RJ invites customers to choose new name for its Frequent Flyer programme

Royal Jordanian has invited its Jordanian fans, customers and frequent flyers to take part in renaming the airline’s loyalty programme, by submitting their suggestions through RJ’s social media channels.

Flydubai sees strong growth in revenues, record passengers and sustained profit

Flydubai has announced its full-year results for the year ending 31 December 2017.

Aviation Africa SK18418
See us at
Aviation Africa BT18418BIAS BT271017161118AirportShow BT1502090518ArabianTravelMkBT250418Istanbul Airshow BT22018SOFEX BT2018MEBAA BT2018Abu Dhabi AirExpo BT2018Global Aerospace BT2018