Jazeera Airways reports 6% decline in revenue, 20% increase in operating costs in 2009

Jazeera Airways reported the following updated financial highlights for the 12 months ended 31-Dec-2009 (Arab Times, 12-Apr-2010):

• Revenue: USD159.6 million, -5.5% year-on-year;
• Operating costs: USD178.4 million, +20%;
  • Fuel: USD66.6 million, -15%;
  • Lease expense: USD23.9 million, +1,625%;
  • Maintenance: USD12.1 million, +1,650%;
• Net profit (loss): (USD28.5 million), compared to a profit of USD15.3 million in the previous corresponding period;
• Average fare: USD86.78, -28.3%;
• Passenger numbers: 1.8 million, +32%;
• Load factor: 60.8%, -6.4 ppts;
• Cost per ASK: USD 5.04 cents, -11.3%;
• Cost per ASK excl fuel: USD 3.66 cents, +6.4%.

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