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Jazeera Airways is the only airline in the Middle East that is neither owned nor subsidized by any government.
Chairman and CEO Marwan Boodai said,
"We are excited to be one of the first airlines in the world to install the technology that allows travelers to use their mobile phones during flight. The new service will be available to all passengers for a fee, and will empower passengers to continue communicating with their families or their office while on board."
NBK Capital CEO Salah Al Fulaij said: "We are very proud to partner with Jazeera Airways in their listing, which is the first listing of an airline on the KSE and the first 'government-free' airline ever to be listed on a stock exchange in the Middle East.
He added, "Jazeera Airways brings a breath of fresh air to traders and investors alike. It has a unique business model that works to maximize operational revenue 365 days of the year, and has a great track record with a profitable financial performance in 2006 - its first full year, and the first 9 months of 2007."
Jazeera Airways launched commercial operations on October 30 2005, with two brand new Airbus A320s operating to five destinations. Since then it has grown its fleet to six Airbus A320s - all fitted with leather seats - and has added 25 non-stop routes, operated from a primary hub in Kuwait and a secondary hub in Dubai. The airline ended 2006 with $8.7m profit and continued its positive performance throughout 2007.
The airline carried 600,000 passengers in 2006, and 1.2 million in 2007.
Last June at the Paris Air show, Jazeera Airways increased its confirmed order for Airbus A320s from 10 aircraft to 40 aircraft. Jazeera Airways began taking deliveries last month and will continue to until 2014, when the last ordered aircraft will be delivered.
Jazeera Airways has a capital of $75m and will be listed on KSE with the ticker 'Jazeera' from January 14.
Posted by Anne-Birte Stensgaard, Senior News Editor
