Jazeera Airways has recorded a net profit of $49 million, up 124.1 per cent from last year.
The figure was supported by a 20.6 per cent increase in passenger numbers, reaching 2.4 million, and a 25.9 per cent increase in operating revenue to $340.2 million.
Operationally, the airline registered an increase in operating profit of 108.7 per cent to $46.6 million, a 2.3 per cent increase in load factor to 77.5 per cent and an aircraft utilisation of 13.3 hours.
Speaking on the impressive results was the carrier’s chairman, Marwan Boodai: “We are proud to be announcing our best set of operating results in the airline’s history. The significant leap in profitability is the result of profitable growth coupled with an aggressive cost focus.
“Our airline continues to grow and expand its footprint in the Middle East, Europe and Asia, while our Jazeera Terminal T5, which is the only example of an airline-owned terminal in the region, significantly contributed to the strong results,” he added.
Jazeera Airways continued to expand in 2019, opening new low-cost options to serve passengers. The expansion was marked by a milestone launch of a direct service to London Gatwick in October, as well as services to Istanbul’s Sabiha Gokcen International Airport in May, the Nepalese capital of Kathmandu, Osh in Kyrgyzstan, Karachi in Pakistan, Al Ain in the UAE and Dammam in Saudi Arabia.
Adding to this, Jazeera Airways took delivery of three new Airbus A320neo aircraft in Q4, 2019, bringing the number of aircraft in its fleet to 13, including nine of the A320 model and four of the A320neo. Another five A320neos are expected to be delivered in 2020.
In May 2019, the airline marked the first year of operations of its Jazeera Terminal 5 (T5) at Kuwait International Airport. T5 served 1,187,258 departing passengers, 969,999 arriving passengers and 325,135 transiting passengers. The Terminal has a capacity exceeding three million passengers annually and state-of-the-art check-in facilities.
Following its milestone launches in 2019, Jazeera Airways is planning on introducing new direct services to Sharjah in the UAE, Chittagong and Dhaka in Bangladesh, and Qassim and Hail in the KSA.
Boodai concluded: “We look forward to continue our expansion in the coming years with a focus in our home region, the Middle East, Europe and Asia. The expansion will be supported with a growing fleet and a customer-centric offering in which our customers choose to fly the way they prefer.”