29-Mar-2010 1:48 PM

Jazeera Airways falls into the red in 2009

Jazeera Airways reports (26-Mar-2010) the following financial highlights for the 12 months ended 31-Dec-2009:

  • Total revenue: USD159.7 million, n/a year-on-year;
  • Net profit (loss): (USD28.5 million), compared to a net profit of USD15.6 million in the previous corresponding period;
  • Passenger numbers: 1.8 million. [more]

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

Jazeera Airways: “We entered 2009 knowing it would be a challenging year not just because of the financial crisis alone but also the extra capacity that entered the region. With that in mind we chose to stay the course and work to seize a leading market share, which we did by the third quarter when we became the largest operator in Kuwait. Looking back at 2009, it was a year of contradictions; we navigated through a tough business environment and came out the with largest market share in our airline’s history. Throughout it all, we continued to optimize our network in line with market demand,” Marwan Boodai, Chairman. Source: Jazeera Airways, 26-Mar-2010.

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