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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

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