23-Feb-2021 10:30 AM

Jazeera Airways reports USD67.5m operating loss in 2020

Jazeera Airways reported (22-Feb-2021) the following financial highlights

Three months ended 31-Dec-2020:

  • Revenue: KWD8.6 million (USD28.4 million);
  • Operating profit (loss): (KWD10 million) (USD33.1 million);
  • Net profit (loss): (KWD10.9 million) (USD36 million);

12 months ended 31-Dec-2020:

  • Revenue: KWD41.4 million (USD135.0 million), -60.1%;
    • Passenger: KWD35.5 million (USD115.7 million), -61.0%;
    • Ancillary: KWD3.0 million (USD9.8 million), -61.9%;
  • Operating costs: KWD55.7 million (USD181.6 million), -30.5%;
    • Aircraft maintenance: KWD14.0 million (USD45.6 million), +8.7%;
    • Fuel: KWD7.7 million (USD25.1 million), -65.1%;
    • Labour: KWD7.2 million (USD23.5 million), -35.5%;
  • Operating profit (loss): (KWD20.7 million), (USD67.5 million);
  • Net profit (loss): (KWD26.4 million) (USD86.1 million), compared to a profit of KWD14.9 million in p-c-p;
  • Passengers: 696,100;
  • Passenger load factor: 64.3%;
  • Total assets: KWD162.6 million (USD530.01 million);
    • Cash and bank balances: KWD19.7 million (USD64.2 million);
  • Total liabilities: KWD150.6 million (USD491.0 million). [more - original PR]

*Based on the average conversion rate at KWD1 = USD3.26

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More