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Jazeera Airways H1 profit rises 27%

Jazeera Airways H1 profit rises 27%
Photo Credit: Arabianeye - Reuters
JAZEERA
JAZEERA
0.09% 1,079.00 1.00

Kuwait – Mubasher: Jazeera Airways Group posted 27.1% growth year-on-year in net profit for the first half of 2015 to KWD 6.2 million, the company said in a statement issued Tuesday.

Q2 net profit reached KWD 3.2 million, an increase of 14.2% from the same quarter last year.

“The continued strong growth was driven by an increase in demand and higher load factor, which was up 4.1% compared to the same period last year,” the carrier added.

The group’s H1 operating revenues rose 0.8% y-o-y to KWD 26.6 million, while operating expenses increased by 5.8% y-o-y to KWD 21.9 million. Operating profit reached KWD 4.7 million, up 51.0% from H1-14.

Jazeera Airways Group Chairman, Marwan Boodai, said: “Our continued double-digit growth despite all the challenges proves that we have the right strategy in place for our market with the right product for our customers, to whom we are very thankful for making Jazeera Airways one of the most successful airlines in the Middle East.”