Subscribe Free
in Business & Finance

Jazeera Airways reports 52.8 million in revenues

Posted 10 February 2017 · Add Comment

Jazeera Airways has announced its full-year financial results for 2016. The company recorded KD52.8 million in revenues for the year, an operating profit of KD8.8 million, and a net profit of KD10.8 million making 2016 the company's sixth consecutive year of profitability.

The board of directors has recommended a 35% cash dividend totalling KD7 million.

Jazeera Airways chairman Marwan Boodai said, "I am pleased to report that the year 2016 was our sixth consecutive year of profitability, however the slowing macro economic environment and the continued oversupply of seats on our routes placed pressure on our yields, resulting in a 29.8% drop from last year while carrying slightly more travellers. Having said that, with six years of consecutive profitability and virtually no debt, our balance sheet remains strong and cash-rich, making it the healthiest balance sheet in our industry."

“Looking forward, we believe that with the recent investments in on-ground facilities that we’ve made -  and launched in the second half of 2016- will attract more travellers in the quarters to come. Our new terminal, which we have announced earlier will differentiate our product and gradually counter the pressure on yields. The terminal is due to start welcoming travellers by year-end.”

In 2016 Jazeera Airways broke new grounds by launching services that make the travel experience more efficient for travellers in Kuwait. The airline launched a remote check-in service called Park & Fly, the first in Kuwait, as well as a dedicated business lounge adjacent to its dedicated gates. The airline also upgraded the entire check-in experience for even faster service. In 2017, the airline will continue to facilitate travellers’ check-in, boarding, departure, and arrival experience with the construction of a brand new state-of-the-art dedicated terminal that aims to make the airport experience even more efficient for travellers flying in and out of the airport.

The new Jazeera Airways Terminal building will incorporate smart technology tasked with providing a seamless, congestion-free, check-in process. The automated building will also connect to travellers’ devices as soon as they arrive to the terminal and offer immediate assistance such as updating their flight status and navigation to their gate.

* required field

Post a comment

Other Stories
Advertisement
Latest News

Air Partner is appointed by Saudi Arabian Airlines as its exclusive remarketing agent

Air Partner's Aircraft Remarketing division (formerly Cabot Aviation), a leading aircraft remarketing agent, has been appointed by Saudi Arabian Airlines (Saudia) as its exclusive remarketing agent in respect of fifteen Boeing

Boeing Global Services Forecasts 1.2 million pilots and technicians needed by 2036

Now in its eighth year, the outlook is a respected industry study that forecasts the 20 year demand for crews to support the world's growing commercial airplane fleet.

Pegasus Airlines launches Business Flex

Pegasus Airlines has launched its brand-new flight package, Business Flex.

Etihad Airways introduces next-gen Boeing 787 between Abu Dhabi and Beirut

Etihad Airways has introduced the Boeing 787-9 on its scheduled daily service from Abu Dhabi, the capital of the United Arab Emirates (UAE), to Beirut, Lebanon.

Emirates highlights female role models in aviation with simulator challenge

Championing the importance of women's contributions to the growth and development of aviation, Emirates recently hosted Shaesta Waiz for a Boeing 777 simulator challenge in its home base of Dubai.

Gerry's Dnata opens lounge in Karachi

Gerry's Dnata, the largest ground handler in Pakistan, has opened a new marhaba lounge at Jinnah International Airport – Karachi.

Aviation Africa SK18418
See us at
DIAC BT1105121117Aviation Africa BT18418DASAS BT3006161117DAS BT1105161117RMIT BT1631817Commercial Aircraft Financing BT2017Global Aerospace BT28218AIME BT1204240118