Jazeera Airways, the Kuwait-based private low-cost-airline, announced a net profit of KD14.9 million for 2019, up 124 percent from a year earlier, supported by a 21 percent increase in number of passengers, which reached 2.4 million last year.
Commenting on the results, Jazeera Airways Chairman, Marwan Boodai, said: “We are proud to be announcing our best set of operating results in the airline’s history. The significant leap in profitability is the result of profitable growth coupled with an aggressive cost focus. Our airline continues to grow and expand its footprint in the Middle East, Europe and Asia, while our Jazeera Terminal T5, which is the only example of an airline-owned terminal in the region, significantly contributed to the strong results. Today, Jazeera Airways continues to enjoy a strong balance sheet, backed by solid and expanding operations that serve the demand of a growing customer base in the regions where we operate.”
Jazeera Airways continued to expand in 2019, marked by a milestone launch of a direct service from Kuwait to London Gatwick in October. The airline also launched services to Istanbul’s Sabiha Gokcen International Airport, the Turkish coastal city of Bodrum, the Nepalese capital Kathmandu, Osh in Kyrgyzstan, Karachi in Pakistan, Al Ain in UAE, and Dammam in Saudi Arabia.
Jazeera Airways also took delivery of three new Airbus A320neo aircraft in Q4 2019, bringing the number of aircraft in its fleet to 13, including nine of the A320 model and four of the A320neo. Another five A320neos are expected to be delivered in 2020.
In May 2019, the airline marked the first year of operations out of its Jazeera Terminal 5 (T5) at Kuwait International Airport. The Terminal’s contributed to the company’s earnings with an operating profit of KD1.2 million for the year 2019. In total, T5 served 1,187,258 departing passengers, 969,999 arriving passengers and 325,135 transiting passengers. The Terminal has a capacity exceeding 3 million passengers annually and state-of-the-art check-in facilities.
Also in 2019, Jazeera Airways was named the ‘Aviation Company of the Year 2019’ by the Arabian Business Kuwait Awards and was selected winner of the Transport Project of the Year and Small Project of the Year awards by the 2019 MEED Quality Projects Awards in recognition of the Jazeera Terminal 5.
Following its milestone launches in 2019, Jazeera Airways is planning new direct services from Kuwait to Sharjah in UAE, Chittagong and Dhaka in Bangladesh, and Qassim and Hail in KSA. The airline is also looking into opportunities to continue its expansion in the European market within the 6.5-hour flight radius.
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