Kuwait's Jazeera Airways says debt-free, plans US$10m dividend

Shareholders at Jazeera Airways have approved a board proposal for the distribution of a cash dividend of KD3m (US$9.94m) for 2015, equivalent to 15% of the share's nominal value. Jazeera Airways registered a net profit of KD15.4m for 2015, on operating revenues of KD58.6m. Operationally, the company said that it saw a 4.5% increase in passengers and an on-time performance of 94.3% last year. Marwan Boodai, Jazeera Airways chairman, said: "2015 was another profitable year for Jazeera Airways, and a transformational one too. We successfully readjusted the airline's capital to match its size, issued record shareholder pay-outs worth KD52.7m in cash, and settled all debts. The company is now debt-free, has over KD30.9m in cash and operates a growing, profitable business." <br/>