Jazeera Airways (Jazeera) has announced record net profits of US$65.7 million (KD20.1 million) for the 2022 full year, an increase of 183.6% over 2021. Operating revenues for 2022 increased to US$595.4 million (KD182.116 million), up 126.5%, and operating profit increased by 148.4% to US$87.6 million (KD26.8 million).
With the resumption of operations at the Kuwait International Airport (KIA), the airline built on its quick return to profitability in the second half of 2021. During 2022, Jazeera also exceeded 2019 performance, which was the last comparable full-year of unrestricted operations, by 30%.
While overall passenger traffic at the airport dropped by 26% compared to 2019, Jazeera’s traffic grew by 19% during the same period. Passenger numbers increased by 247.5% to an unprecedented 3.6 million, compared to the last year. Load factor increased by 10.2% to 77.01%, which offset a decline in yield, the average fare paid per passenger, by 35.1% to KD47.96.
