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Jazeera reports $12.6m in quarterly profit
- Kuwait: Thursday, April 25 - 2013 at 06:07
Kuwaiti carrier Jazeera Airways Group has reported a record 229.4% surge in net profit for first quarter to KD3.6m ($12.6m), compared with KD1.1m last year, making it the group's 11th straight profitable quarter with an average load factor of 70%. The low-cost carrier saw a 15.7% growth in its revenue for the first quarter to KD14.7m from KD12.7m a year ago, while its operating profit almost doubled to KD4.5m from KD2.3m last year. "These exceptional results were generated by our airline business, which saw an increase in passenger loads and a full recovery from the three Syrian destinations that were suspended by fourth quarter of 2012," said Jazeera Airways Group chairman, Marwan Boodai.
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