Jazeera Airways Q1 profit rises 42 percent

May 19th, 2008 - 5:03 pm ICT by admin  

Dubai, May 19 (IANS) Kuwait and Dubai based low cost carrier Jazeera Airways has announced 2008 first quarter profits of 745,815 Kuwaiti dinars ($2.8 million), a rise of 42 percent from the same period in the previous year. “Our strong Q1 results follow the major expansion strategy we pursued in 2007,” Marwan Boodai, chairperson and chief executive of Jazeera Airways, said in a statement.

“We will continue to expand in the rest of 2008, bringing new routes on the back of more aircraft deliveries throughout the year,” he said.

In the first quarter of this year, the airline posted operating revenues of 10.78 million Kuwaiti dinars ($40.5 million), a 46 percent rise from the corresponding period in 2007.

Jazeera Airways is listed on the Kuwait Stock Exchange and operates a fleet of six Airbus A320s from hubs in Kuwait and Dubai to destinations across the Middle East, Europe, Iran, North Africa, and the Indian subcontinent.

The airline flies to Kochi, Mumbai and New Delhi in India.

The airline has ordered 34 additional aircraft to be delivered over the coming years with the last fleet instalment scheduled for delivery in 2014, according to the airline’s statement.

Jazeera Airways is the only international airline in the Middle East that is neither owned nor subsidised by any government.

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