Jazeera Airways Group announces 23% increase in YTD net profit

28-Oct-2013

In a webcast attended by local and international analysts, Jazeera Airways Group today announced a record year-to-date (YTD) net profit of KD14.1 million, making the first nine months of 2013 the airline's most profitable nine-month period in history.

YTD 2013 Highlights ________
Revenue: KD50.8 million, up 4.4% from 2012
Operating profit: KD17.2 million, up 13.1% from 2012
Net profit: KD14.1 million, up 23% from 2012
Load factor: 70%, up 5.6% from 2012

*Percentages shown are calculated based on the absolute results, not on the displayed rounded figures.

H1 2013 Balance Sheet ________
Hard assets of KD152 million
Cash reserves of KD50 million, exceeding share capital
Equity improved by KD35 million since Q3 2012

Jazeera Airways Group Chairman, Marwan Boodai, said, "Despite the political unrest in some parts of our network for the last three quarters and the holy month of Ramadan impacting this year's summer travel trends, we were still able to carry more passengers than last year and at higher average yields resulting in increases in most of our financial KPIs. Our YTD net profit was up 23%, our YTD revenue was up 4.4%, our YTD operating profit was up 13.1%, and our YTD flown passengers figure was up 1.2%".

Jazeera Airways operated the first three quarters of 2013 with an average load factor of 70% and with a 4.2% increase in average yield compared to the first three quarters of 2012.

Refer to full documentation in attachments box, located at the top left, below the headline.