Jazeera Airways posts 41.8% decline in Q1 earnings
Kuwaiti carrier, Jazeera Airways Group has posted a 41.8% drop in its first-quarter net profit to KD2.1m, compared with last year’s results in the same quarter, Gulf News has reported. Despite the significant decline, the airline remained bullish in its outlook. “Our outlook for the year remains unchanged and we expect to register bottom line growth driven by an exceptional summer season,” said group chairman, Marwan Boodai. Operating profit dropped 37.6% to KD2.8m, with revenue down 6.1% to KD13.8m.