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10-Feb-2016 8:53 AM

Jazeera Airways reports USD45m operating profit in 2015

Jazeera Airways revenue down 6% - financial highlights for 12 months ended 31-Dec-2015:

  • Operating revenue: KWD58.6 million (USD194.7 million), -6.2%;
  • Operating costs: KWD149.6 million), -8.4%;
  • Operating profit: KWD13.6 million (USD45.2 million), +2.0%;
  • Net profit: KWD15.4 million (USD51.2 million), compared to a loss of KWD2.8 million (USD9.3 million) in p-c-p;
  • Passenger numbers: 1.2 million, +4.3%;
  • Load factor: 69%, +1.0 ppt;
  • Average yield: KWD48 (USD159.5), -9.4%. [more - original PR]

*Based on the average conversion rate at USD1 = KWD0.3010 for 12 months ended 31-Dec-2015

Jazeera Airways: "I'm pleased to report that 2015 was another profitable year for Jazeera Airways, and a transformational one too. We successfully readjusted the airline's capital to match its size, issued record shareholder payouts worth KD52.7 million in cash, and settled all debts. Today, the company is debt-free, with over KD30.9 million in cash and a growing profitable business. The company's balance sheet has never been as strong as it is today," Marwan Boodai, Chairman. Source: Company statement, 08-Feb-2016.

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