Jazeera Q1 profits dive 42%

Kuwait-based Jazeera Airways Group has announced that its net profit plunged nearly 42 per cent to KD2.1 million (Dh27.4 million) for Q1 2014 on drop in revenues.

Its operating profit dropped 37.6 per cent to KD2.8 million while revenues fell 6.1 per cent to KD13.8 million.

The airline said in a statement that it will also increase its service to Al Maktoum International Airport at Dubai World Central (DWC) to daily flights, starting from May 1, 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.

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”.

Jazeera Airways is currently in the last stages of launching a dedicated gates facility at Kuwait International Airport. 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 per cent.

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 2, 2014 instead of the Sabiha Gökçen International Airport (SAW), to which the airline has served since 2008.

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