Kuwaiti Jazeera Airways cuts 2010 losses to USD10.1m

26 Apr 2011

(MENAFN) Kuwait’s Jazeera Airways Group chairman, Marwan Boodai, stated that the airline’s good performance in Q2 reduced net losses in 2010 to USD10.1 million compared to 2009’s USD28.92 million, reported Arabian Business.

Boodai also said that the company’s 2010 second half was the first time during which the company had two consecutive profitable quarters. He pointed out that the earnings in 2010’s Q3 were the highest since the second half of 2008.

The chairman added that the main reason behind the company’s strong performance was the overcapacity thrown on ME routes by other airlines, mainly governmental ones.

It is worth noting that Jazeera Airways ended last year having carried a total of 1.3 million passengers on 14,276 flights across its network.

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