Subscribe Free
in Business & Finance

Jazeera Airways shareholders approve KD7 million cash dividend for 2016

Posted 2 May 2017 · Add Comment

Jazeera Airways shareholders have approved a board recommendation to distribute a cash dividend of KD7 million, equivalent to 35% of the share's nominal value, for the fiscal year ended December 31, 2016 during the company's 15th Annual General Meeting of Shareholders that was held at the company's headquarters.

Jazeera Airways had registered a net profit of KD10.8 million for 2016, an operating profit of KD8.8 million, and an operating revenue of KD52.8 million. Operationally, the company saw a 0.3% increase in passengers and earned an on-time performance of 94%.

Jazeera Airways Board Member Marzouq Jassim Boodai said: “I am pleased to share with our shareholders that we closed 2016, which was was our sixth year of consecutive profitability, with a strong and healthy balance sheet that is cash-rich and practically debt-free. However, that is not to say 2016 was free of challenges. In the wake of a slowing macro economic environment and the continued oversupply of seats on our routes we saw pressure on our yields while demand remained buoyant.

Looking forward, we believe that with the product differentiation initiatives we launched in the second half of 2016, along with our new terminal that is due to start welcoming travellers by early 2018, we will continue to strengthen our product offering and gradually help counter the market pressure on our yields.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

Third H160 prototype joins the flight test campaign

The third H160 prototype (PT3) has performed its maiden flight. With its cabin interior configuration similar to that of a serial aircraft, will contribute to certification activities and flight testing to ensure the aircraft's

Emirates launches campaign to promote Dubai hub and inspire travel

Emirates has launched a US$15 million campaign to inspire travel and promote the airline's extensive network of global destinations including its home and hub, Dubai.

Turkish Airlines announces Passenger and Cargo Traffic Results for September 2017

The global carrier reached the highest Load Factor in last five years in September 2017, with 81.5% LF.

Inmarsat certified for Jet ConneX inflight Wi-Fi installations on Gulfstream G550 aircraft

Inmarsat has announced that its Jet ConneX business aviation inflight Wi-Fi service has received a Supplement Type Certificate (STC) for the popular Gulfstream G550 aircraft.

Qatar Airways Cargo's inaugural freighter touches down in Pittsburgh

Qatar Airways Cargo's Boeing 777 freighter arrived at Pittsburgh International Airport last Thursday to a water salute welcome. The cargo carrier launches Pittsburgh as its thirteenth freighter destination in the Americas.

Full speed ahead for Qatar's Wi-Fi

Passengers on many Qatar Airways' flights will soon be able to use high-speed in-flight Wi-Fi, thanks to Inmarsat's GX Aviation Ka-band satellite connectivity. Steve Nichols reports.

Aviation Africa SK18418
See us at
Aviation Africa BT18418DIAC BT1105121117AIME BT1204240118DASAS BT3006161117DAS BT1105161117AIMA Africa 2017Aviation Show 267291117Global Aerospace BT28218