The results showed double digit growth in both revenue and flown passengers, in addition to a significant improvement on the bottom line. Specifically, the airline recorded an operating revenue of KD14.3 million (USD47.4 million), up 42.7 percent from the first quarter of 2017, and a net result of minus KD30,000 (minus USD99,357), an improvement of KD63,600 (USD210,607) from first quarter (Q1) of 2017. Passengers reached 403,863, up by 43.1 percent from Q1 2017.
Significantly, Jazeera Airways’ improved operational and financial performance was a result of the significant investments in customer experience enhancement, new routes launches, and higher asset utilisation in 2017. The company had registered a net profit of positive KD8.2 million (USD27.2 million) for the year 2017.
Commenting on the financial results, Marwan Boodai, chairman, Jazeera Airways, said, “Looking ahead, the rest of the year is looking incredibly exciting for our business with our very own dedicated terminal coming online in mid-May, in addition to new routes, and new additions to the fleet.”