Following the release of its financial and operational results for 2018 (ending December 31), Jazeera Airways has reported a record increase of 42.8 per cent in passengers to two million, and a jump of 45.5 per cent in operating revenue compared to the previous year.
The airline’s adjusted net profit stood at $28.65 million in 2018, while its reported net profit came in at $22 million, keeping in mind the impact of various disruptions during the year and the contribution of a new terminal at Kuwait International Airport, which opened in May 2018.
Meanwhile, Jazeera Airways’operating revenue stood at $271.5 million in 2018, up an impressive 45.5 per cent from 2017. Its adjusted operating profit rose by 13.9 per cent from 2017, to $28.98 million in 2018.
Finally, fleet utilisation stood at 13.6 hours, up 24.7 per cent from 2017, and load factor stood at 75.2 per cent, up from 73.9 per cent in 2017.
Chairman, Jazeera Airways, Marwan Boodai enthused: “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.”
He continued: “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.
“We also achieved another important milestone in the development of our business model, which is the inauguration of our dedicated terminal at Kuwait International Airport; a significant game-changer for our operations and customer experience. We are now able to invest in and roll-out new customer-centric services that have started to show direct results in customer satisfaction and also in the bottom line,” Boodai noted.
Jazeera Airways began flying from Kuwait International Airport’s new Jazeera Terminal last May and has transported over 1.2 million passengers since its launch.
Also last year, the airline was recertified by the IATA Operational Safety Audit (IOSA) Program, an international recognition of our operational management and control systems.
Looking ahead, Boodai said: “We look forward to 2019 to continue expanding our network to new destinations in Europe, India, Pakistan, Bangladesh and the Gulf. The expansion will be supported with the delivery of three new A320neo aircraft, as part of a plan to increase our fleet in the coming years.”