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Jazeera Airways reports best quarterly result in 3Q2010

9-Nov-2010 11:55 AM

Jazeera Airways Group reported (08-Nov-2010) the following financial highlights for the three months ended 30-Sep-2010:

  • Revenue*: USD50.3 million, n/a year-on-year;
  • Operating profit: USD12.3 million, n/a;
  • Net profit: USD15.8 million, n/a;
  • Passenger numbers: 365,163, n/a;
  • Load factor: 70%, n/a;
  • On-time performance: 94%;
  • Market share: 40.1%. [more]

*Based on the conversion rate at KWD1 = USD3.57782

Jazeera Airways: “The acquisition of Sahaab perfectly complemented this plan [turn around plan] by providing us a vehicle to place excess aircraft on long-term leases with world-class carriers. This successfully introduced a new revenue stream for the company. Together, these initiatives successfully put the airline back on the road to profitability, as today we operate a profitable airline business and a profitable aircraft leasing business. Today, we are operating the right fleet size on profitable routes,” Marwan Boodai, Chairman. Source: Jazeera Airways, 08-Nov-2010.