Kuwait’s Jazeera Airways gross profit soars 2.4 percent in Q3

05 Nov 2015

(MENAFN) Kuwaiti Jazeera Airways Group had its net profits surge 2.4 percent over the previous quarter, which translated into USD47.8 million for the Jan-Sept period, according to recent reports.

This showed a 11.7 percent growth in profits when compared to last year’s same timeframe, however; the operating income touched USD69.1 million, a 0.9 percent fall from 2014’s third quarter.

Moreover, the group is currently capital from USD138.3 million to USD65.8 million through a share buyback program of 220 million shares, resulting in a USD72.4 million shareholder payout.

“We are pleased with this quarter’s results and we forecast the last quarter to be in line with expectations. As for our previously announced capital reduction we are well on track,” said the group’s chairman.

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