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FINANCIAL NEWS
Kuwait’s Jazeera Airways reports USD9m profit in Q4
07 Feb 2013
(MENAFN) Kuwait’s low-cost airline Jazeera Airways Group posted a 93 percent increase in quarterly earnings, Arabian Business reported.
The carrier said it made USD8.86 million net profit during the last quarter of 2012, up from USD4.61 million a year earlier.
The group also reported a 5 percent increase in quarterly revenue to USD49.3 million from USD47.16 million a year earlier.
For full-2012, the group reported a 32 percent increase in profits to USD49.3 million from USD37.6 million in 2011, while revenue rose 8 percent to USD221.96 million from USD204.9 million.
Jazeera Airways said the results are attributed to the group’s Strategic Master Plan (STAMP), which was launched in 2012 and will continue into 2014.
Last month, Jazeera Airways was given the green light to increase its capital by 74 percent to USD148.92 million.
Jazeera Airways currently has 14 aircraft, and plans to support its growth by adding two new aircraft to its fleet this year.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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