Jazeera Airways continues profitable performance despite record fuel prices

Net profit for 2007 was KD2.29m, and operating revenues for the year totaled KD34.7m, representing growth of 61.2% over operating revenues of KD21.5m for the full year 2006 the airline first full operating year.

The year 2007 was one of rapid growth for Jazeera Airways. In April it launched its second hub in Dubai enabling it to cater to Dubai residents by offering nonstop flights to high demand destinations such as Bahrain, Kochi, Mumbai, Delhi, Salalah, Muscat, the Maldives, and Beirut. By the year's close, the airline had flown 1.2 million passengers, doubling the number of passengers in 2006, at a load factor of 74% - a growth of 12% over 2006.

Jazeera Airways' Chairman and CEO Marwan Boodai said; "2007 was a great year despite the record fuel prices. We invested heavily in growing our hubs, network operations and increased frequencies, and we saw the return on our investment in Q4 2007 and so far this year ."

Boodai added that the increased revenue was also a direct result of increasing frequencies between some of the networks' most popular routes, with the launch of daily flights between Dubai and Beirut, and Dubai and Mumbai. In addition, the airline boosted services from Kuwait, with up to five daily flights to Dubai and four daily flights to Bahrain.

Outlook for 2008 and beyond
"Strengthening our network through new destinations, such as Istanbul, and increased frequencies will enable us to retain our competitive edge, win an even greater share of the market and ensure an even more profitable 2008. This will happen through more choice and an improved Jazeera Airways experience for our travelers - that is our focus for 2008," concluded Boodai.

Jazeera Airways operates a fleet of six brand new Airbus A320 aircraft, all fitted with the airline's signature leather seats. The airline has a confirmed order for 34 additional A320s to be delivered over the coming years with the last aircraft planned for delivery in 2014. Jazeera Airways began operations on October 30, 2005.