Mubasher: Jazeera Airways achieved a net profit of KWD 6.7 million ($22.1 million) during fiscal year 2018, according to a press release on Tuesday.

The adjusted profits of the Boursa Kuwait-listed company reached KWD 8.7 million, the statement added.

Jazeera Airways reported a surge of 42.8% in passengers and a 45.5% increase in operating revenue during FY18 when compared to the prior year.

Fleet utilization increase by 24.7% to 13.6 hours in FY18 compared to the previous fiscal year.

Chairman of Jazeera Airways Marwan Boodai commented, “2018 was another milestone year for Jazeera Airways as it continued to expand its network by adding seven popular destinations to serve a growing customer-base, especially in the Indian sub-continent. The expansion has enabled Jazeera Airways to grow from carrying passengers point to point to and from Kuwait, to routing passengers through the Kuwait hub to their ultimate destinations.”

He added, “Supporting the expansion, we took delivery of the first A320neo in the Middle East and made an order for an additional three of the fuel-saving engine aircraft. Choosing Jazeera Airways as the first airline to receive the new model in the region is proof of the confidence that major manufacturers and lessors have in the Company backed by its exceptionally strong financial position and superior track record.”