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Jazeera Airways Group announces Q1 2014 results

April 24, 2014 1:30 pm

In a webcast attended by local and international analysts, Jazeera Airways Group announced a net profit of KD2.1m for Q1 2014, further building on the Group’s 15 consecutive quarters of profitability.

Q1 2014 Highlights:
?Revenue: KD13.8m, down 6.1% from Q1’13
?Operating profit: KD2.8m, down 37.6 from Q1’13
?Net profit: KD2.1m, down 41.8% from Q1’13
?Hard assets of KD157m
?Equity improved by KD8m since Q1 2013

Jazeera Airways Group Chairman Marwan Boodai said, “Our results this year constitute the highest Q1 earnings in the history of the Group, second to only 2013’s Q1 results, which was an exceptional quarter as we reported last year.” “Our outlook for the year remains unchanged and we expect to register bottom line growth driven by an exceptional summer season with the holy month of Ramadan falling earlier in the season. We look forward to another growth year reinforced by investments in our product, investments that will bolster the on-ground experience and clearly distinguish Jazeera Airways from competitors,” he added.

Following years of successful investments in the Jazeera Airways’ value offering, booking and technology services, Jazeera Airways is currently in the last stages of launching a dedicated gates facility at Kuwait International Airport. This latest invest in dedicated gates, which will have the most advanced bridges at Kuwait International Airport, will enable Jazeera Airways to offer a better, easier, and more streamlined boarding experience for customers.

Boodai said, “We’re excited to share with our customers that by June 1, 2014 flying with Jazeera Airways will be a streamlined experience from check-in to boarding to flight. With our new exclusive gates at Kuwait Airport, our customers will no longer be exposed to the airport’s gates’ congestion during peak times. This investment will significantly bolster our product offering”.

Jazeera Airways Group’s investment in Kuwait Airport will lift the airport’s gates capacity by 30%. In addition to its on-ground investment, Jazeera Airways also announced it will begin serving Istanbul through the city’s primary airport, Istanbul Atatürk Airport (IST), with five flights a week starting from May 2nd 2014 instead of the Sabiha Gökçen International Airport (SAW), to which the airline has served since 2008. The move to Istanbul Atatürk Airport bolsters the airline’s Istanbul service by enabling it to offer travelers better flight schedules to an airport that is at the heart of the city.

The airline will also increase its service to Al Maktoum International Airport at Dubai World Central (DWC) to daily flights, starting from May 1st, 2014 The service complements scheduled daily flights to Dubai International Airport (DXB). Jazeera Airways will maintain convenient timings and frequencies to both Dubai airports, for business, leisure, weekend and same day travels, averaging 24 return flights a week.

The airline operates a two-class cabin comprising of a Business Class and an Economy Class. Jazeera Airways’ Business Class offering includes a separate cabin for passengers, exclusive check-in counters, business lounge access at airports, in-flight à la carte menu, and 60 kilograms in free baggage allowance. The airline’s Economy Class offers travelers free baggage allowance of 40 kilograms, free on-board meals with a changing menu every month, and year-round value fares.

Jazeera Airways is based in Kuwait and operates a network comprising high-demand business, leisure, family, and weekend destinations such as Dubai, Bahrain, Beirut, Alexandria, Amman, Istanbul, Sharm El Sheikh, Assiut, Luxor, Mashhad, Sohag, Jeddah, Riyadh, Cairo and Al Najaf. Jazeera Airways is an IATA-member airline and operates one of the youngest Airbus A320 fleets in the Middle East.

For more information:
Fawaz Al-Sirri
Bensirri Public Relations
Tel: +96566622448