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FINANCIAL NEWS
Kuwaiti Jazeera Airways posts Dh102.8m profit in Q3
02 Jan 2015
(MENAFN) Kuwait’s Jazeera Airways Group reported a 22.6 percent surge in its net profit during the July-September period of this year to USD27.61 million, registering its 17th quarter of straight profitability, Gulf News reported.
During the third quarter of this year, the carrier’s operating profit climbed USD78.75 million, up 15.2 percent compared with the third quarter last year, while the number of passengers travelling with the airline increased by 10.8 percent compared to the same period last year.
For the first nine months of this year, the group’s revenue increased 3.1 percent to USD178.65 million, compared to the same period a year earlier, but its net profit declined by 7.9 per cent to USD44.32 million.
“Despite the continued political unrest in several areas of our network, the company managed to deliver the best earnings in the history of our nine-year old airline. That’s not to say that Jazeera Airways wasn’t impacted by the rise of hot spots in our region, some of the destination flights paths had to be rerouted to ensure the safety of our passengers and crews,” Jazeera Airways Group Chairman said.
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