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Jazeera Airways reports 6% decline in revenue, 20% increase in operating costs in 2009

14-Apr-2010 2:55 PM

Jazeera Airways reported the following updated financial highlights for the 12 months ended 31-Dec-2009 (Arab Times, 12-Apr-2010):

  • Revenue: USD159.6 million, -5.5% year-on-year;
  • Operating costs: USD178.4 million, +20%;
    • Fuel: USD66.6 million, -15%;
    • Lease expense: USD23.9 million, +1,625%;
    • Maintenance: USD12.1 million, +1,650%;
  • Net profit (loss): (USD28.5 million), compared to a profit of USD15.3 million in the previous corresponding period;
  • Average fare: USD86.78, -28.3%;
  • Passenger numbers: 1.8 million, +32%;
  • Load factor: 60.8%, -6.4 ppts;
  • Cost per ASK: USD 5.04 cents, -11.3%;
  • Cost per ASK excl fuel: USD 3.66 cents, +6.4%.

*Based on the conversion rate at KWD1 = USD3.47