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Jazeera Airways reports loss in 2Q2009

14-Aug-2009 11:03 AM

Jazeera Airways, a Kuwait-based LCC, reported a net loss of USD4.4 million for the three months ended 30-Jun-2009, but stated it expects a β€œturnaround” in 2H2009 as business travellers turn to LCCs (Thomson Reuters, 13-Aug-2009). The carrier also reports the following financial highlights for the six months ended 30-Jun-2009:

  • Revenue: USD69.6 million, n/a year-on-year;
  • Profit (loss): (USD7.7 million), n/a.
  • *Based on the conversion rate at KWD1 = USD3.48

Jazeera Airways: β€œThe restructuring of the network from a dual hub to a single hub operation has briefly impacted revenues in Q2 2009, but it will ensure that Jazeera Airways will progress towards having the lowest CASK in the region. We continue to see strong passenger growth on all our services and we remain confident that 2009 will be another profitable year for the airline,” Stefan Pichler, CEO. Source: Jazeera Airways, 13-Aug-2009.