Jazeera Airways falls into the red in 4Q2016, full year profit declines

Jazeera Airways revenue down 15% – financial highlights:

• 4Q2016:
• • Operating revenue: KWD9.3 million (USD30.5 million), -15.2%;
  • Operating profit (loss): (KWD0.7 million) (USD2.3 million), compared to a profit of KWD0.4 million (USD1.3 million) in p-c-p;
  • Net profit (loss): (KWD1.2 million) (USD3.9 million), compared to a profit of KWD0.9 million (USD3.0 million) in p-c-p;
• 2016:
• • Operating revenue: KWD52.8 million (USD174.4 million), -10.0%;
  • Operating profit: KWD8.8 million (USD29.1 million), -35.3%;
  • Net profit: KWD10.8 million (USD35.7 million), -29.8%;
  • Passengers: +0.3%;
  • Load factor: 69%, +0.3 ppt. [more - original PR]

*Based on the average conversion rate at KWD1 = USD3.28337 for 4Q2016
*Based on the average conversion rate at KWD1 = USD3.30258 for 2016