Jazeera Airways’ financial and operational results for the first half of the year revealed $20.4 million in net profit and a 20.06 per cent growth in the number of passengers.
The airline’s operating revenue for H1 increased by 37.4 per cent to $155.6 million, while operating profit rose by 391.6 per cent to $21.7 million, in comparison to the same period the previous year.
In Q2 of 2019, Jazeera Airways reported $15.8 million in net profit, up 171.2 per cent from $5.9 million in Q2 2018, and a 12 per cent growth in the number of passengers. Operating revenue increased by 29.5 per cent to $85.5 million and operating profit increased by 169.8 per cent to $15.8 million, while aircraft utilisation increased by 2.2 per cent to 14.8 hours.
The airline’s chairman, Marwan Boodai, commented on the successful period: “Jazeera Airways continues to perform positively as it further expands its network of destinations and grows its fleet with new three A320neo aircraft to be delivered in the second half of the year.”
This year, Jazeera Airways launched a new route to Bodrum, a popular summer destination in Turkey, and celebrated the first year anniversary of the Jazeera Terminal (T5). The airline also saw the inauguration of the first ever on-board convenience store, adding more value to passengers when flying with Jazeera Airways. The airline served over 1.1 million passengers through T5 since it became operational in May 2018.
“Our overwhelming focus on our customers by operating routes of their choice at very affordable prices and making operational excellence as the cornerstone of our business, is the DNA of Jazeera Airways,” CEO, Jazeera Airways, Rohit Ramachandran remarked. “We ruthlessly eliminate wasteful processes and cost and pass on the benefit to our customers as lower fares.”
Jazeera Airways is gearing up for the launch of new routes in Q3 and Q4, starting with flights to London in October 2019. The airline will also take delivery of three new A320neo aircraft.