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FINANCIAL NEWS
Jazeera Airways reports $16.4m loss in Q2
14 Aug 2010
(MENAFN) Kuwait’s low cost carrier Jazeera Airways said that it made a loss of $16.41 million in the second quarter of the current year, compared with a loss of $4.38 million in the year-earlier period, Reuters reported.
In a statement to the Kuwaiti bourse, Jazeera said it made a loss of $32.04 million in the first half of the year, compared to a loss of $7.75 million in the same period period of 2009.
Jazeera, which aims to fly 82 routes in the Middle East within the next five years, competes with United Arab Emirates based Air Arabia and Dubai based carrier flydubai which started operations last year.
The carrier’s total assets grew 119.5 percent in the first half of the year to $583.24.
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