Kuwaiti Newspaper | Jazeera Airways earns 3.8 million dinars in the first quarter

Marwan Boodai: The company has expanded its services and capabilities in preparation for the launch of new tourist destinations

Jazeera Airways has achieved a new achievement by obtaining an accreditation certificate from the General Administration of Civil Aviation of Kuwait to be an approved training center for pilots and aircraft crews, from its headquarters in the state of Kuwait.

Jazeera Airways announced yesterday that it has achieved a net profit of 3.8 million dinars for the first quarter of this year, compared to a net loss of 5.2 million dinars for the same period in 2021. Total revenues for this period amounted to 35.7 million, an increase of 339.2 per cent, while operating profit increased by 199.3 per cent to 5.3 million.

These record profits were supported by a nearly 6-fold increase in passenger numbers, as this came with the easing of travel restrictions at Kuwait International Airport and the gradual increase in capacity to levels close to what was before the pandemic, which was. It is also reflected positively in the occupancy rate, which has increased by 28.7 percent to 75.2 percent.

The Chairman of the Board of Directors of the company, Marwan Boodai, said: “With the gradual restoration of capacity at Kuwait International Airport since the second half of last year, as well as the easing of travel restrictions around the world, we have already witnessed a demand Jazeera Airways focused on expanding its services and capabilities during the first quarter, preparing for the launch of new and high-demand tourist destinations, thanks to its strong financial position and strategy. aimed at managing the consequences of current geopolitical developments that have begun to affect the global economy. ”

In comparison, Jazeera Airways achieved a net profit of 1.5 million dinars in the first quarter of 2019, the peak travel period before the Covid-19 pandemic, when it transported a total of 529.6 thousand passengers. The performance of the first quarter of 2022 shows the strength of the business travel sector, as well as the positive outlook for the travel sector for 2022 and subsequent years.

Significant financial and operational results

Results for the first quarter 2022:

• Operating revenues: 35.7 million dinars, an increase of 339.2 percent in the first quarter of 2021.

• Operating profit: 5.3 million, an improvement of 199.3 percent compared to the first quarter of 2021.

• Net profit: 3.8 million, an improvement of 174.2 compared to the first quarter 2021.

• Number of passengers: 707.7 thousand, an increase of 579.8 percent in the first quarter 2021.

• Occupancy rate: 75.2 percent, an increase of 28.7 percent.

• Average return on seats: 47.6 dinars, down 36.4 percent.

Developments for the first quarter 2022

Jazeera Airways has achieved a new achievement by obtaining an accreditation certificate from the General Administration of Civil Aviation of Kuwait to be an approved training center for pilots and aircraft crews, from its headquarters in the state of Kuwait.

This accreditation is an essential step in enhancing the company’s capabilities and ensuring its ability to train the staff it needs to support its future expansion plans.

The company has also been approved by local and international authorities to enable it to carry out maintenance work on its aircraft, which contributes to a significant increase in its operational efficiency.

Jazeera Airways opened Gate VIV, which is the first of its kind in Kuwait to offer an exclusive travel experience for passengers traveling from Kuwait International Airport, serving passengers on airlines operating in Terminals 1 and 5, in addition to aviation. general and private aircraft.

Passengers are offered a range of exclusive services, including meeting and check-in service, a gourmet food menu, a dedicated passport area, amenities and pick-up and drop-off in a limousine.

Jazeera Airways Duty Free, which acquired its Duty Free headquarters at Jazeera Terminal T5 last December, posted first-quarter earnings and met all the commercial and financial targets set for it.

In the network of destinations, the company launched a new flight line between Kuwait and Bangladesh, in the coastal city of Chattogram. This is the second line operated by Jazeera Airways to Bangladesh, following the launch of a flight to Dhaka in October 2020, serving more than 200,000 Bangladeshi residents in Kuwait, in addition to residents of Gulf Cooperation Council countries.

perspective of the future

Jazeera Airways has announced plans to launch new airline flights for the summer season to serve the growing demand for tourist destinations, having previously confirmed the launch of flights to the Austrian capital, Vienna, and the Czech capital, Prague, by starting from June. in addition to new destinations to be launched during the year.

Leave a Comment