Jazeera Airways reported a group net profit of KD20.77 million for a period of nine months in 2022, a comparative increase from the net profit of KD0.071 million in the first nine months of 2021.
Total revenue for the period reached KD140.8 million, while the operating profit estimated to KD 25.96 million.
The airline’s flight movement at Kuwait International Airport recorded approximately 20,161 flights, making Jazeera the largest carrier operating at the airport.
Summer season experienced an increase in daily operations which supported the nine months collection, the airline recorded carrying 1.1 million passengers in the third quarter and the total number of estimated passengers in the nine months period rose to 2.6 million.
Load factor reached an average of 80.1% in the third quarter and 76.4% for the nine months period, a comparative increase of 15.7% over last year.
Operations at the Jazeera Terminal (T5) at Kuwait International Airport saw a surge in its activities, with retail lease revenue increasing by 27.0% and duty free revenue increasing from KD145,351 in the first nine months of 2021 to KD3.3 million in 2022.
Jazeera Airways Chairman, Marwan Boodai stated that the appetite for travel increased significantly during the peak summer season, exceeding the numbers of passengers recorded during the year 2019. Post-pandemic has restored business activities and has reflected financially. With a stipulating launch of 11 new routes since early 2022 and an addition of two new aircrafts.
During the first half 2019, the last full comparable period before COVID-19, Jazeera carried 0.703 million passengers and reported a net profit of KD 9.9 million.
Jazeera launched six new routes during the third quarter, catering to the demand from different market segments. Abha, Hail, Qassim, Taif in Saudi Arabia served as the highest demanding routes for travel.
The airline also launched its second direct route to Uzbekistan’s Namangan, located in the eastern area of the country. A new route was also launched to Xian in China.
Jazeera has also joined the flight shuttle program for the FIFA World Cup 2022 in Qatar, with flights between Kuwait and Hamad International Airport, Doha for all matches from 21st November until 18th December.
As part of the international disaster flood relief efforts for Pakistan by the Kuwait Red Crescent Society, Jazeera continued to offer support, pledging to carry over 2.5 tons of cargo, containing medical supplies and necessary equipment.
2022 Outlook Jazeera continues to move forward with its expansion plans with the delivery of two A320neo aircraft in Q3 as part of its order for 20 A320neos and 8 A321neos. The delivery of these aircrafts will tally the airline’s fleet to 35, as well as support the airline’s network expansion in the Middle East, Asia and Europe.