Jazeera Airways (Jazeera) has posted KD13.27 million in Group net profit for the first nine months of 2023. Total revenues for the period were up 12.8% to KD158.9 from KD140.8 million in 2022, while operating profit was at KD18.08 million.
Last year, the company’s profit also included a one-time gain of KD1.73 million resulting from the sale- and-lease-back of engines. The airline continued to lead the market with a 35.78% share, 17% higher than the same period in 2022. Jazeera’s passenger numbers maintained strong growth, increasing by 35.6% to 3.5 million. For the nine-month period, load factor also grew to 79% compared to 76.4% last year.
Retail lease revenue at Jazeera Terminal (T5) was 52% higher compared to the previous year, while duty free revenue was KD 4.02 million, an increase of 22%.
In the third quarter, Jazeera launched direct flights from Kuwait to Islamabad and Tehran, now flying to a total of 64 destinations.
As part of its planned expansion, the airline welcomed two additional aircraft to its fleet in the last quarter. Jazeera Airways now operates a fleet of 22 aircraft across its network in the Middle East, Central and South Asia, Africa and Europe.
In line with adopting sustainability practices into its operations, in the last quarterJazeera became the first low-cost carrier in the Middle East to switch from plastic to eco-friendly food service ware in-flight. By changing from plastic cutlery to 100% biodegradable spoons, forks, knives and napkins, Jazeera reduces 300 kilograms of plastic on its flights each month. This initiative is part of Jazeera’s goal to achieve net-zero emissions by 2050. (£1.00 = KD0.38 at time of publication).
