Jazeera profits slip again in Q1 as economy slows
Jazeera Airways announced a net loss of KD900,000 (US$2.96m) for Q1 2017 as it continued to be hit by a slowing economic backdrop and excess capacity in the area. The carrier achieved the result on revenue of KD10m, down 15.3% on the same period in 2016. Load factor was 72%, down 0.9% from Q1 2016. “Our earnings for the quarter were impacted by a continuing slowing macro-economy and that is impacting our sector’s yields, Jazeera chairman Marwan Boodai said. “The fact that our load factor remained virtually unchanged from the same time last year is a clear indication that demand for our product continues to be strong despite the macroeconomic pressures and the extra capacity that continued to be dumped on our sectors," he said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-08/unaligned/jazeera-profits-slip-again-in-q1-as-economy-slows
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Jazeera profits slip again in Q1 as economy slows
Jazeera Airways announced a net loss of KD900,000 (US$2.96m) for Q1 2017 as it continued to be hit by a slowing economic backdrop and excess capacity in the area. The carrier achieved the result on revenue of KD10m, down 15.3% on the same period in 2016. Load factor was 72%, down 0.9% from Q1 2016. “Our earnings for the quarter were impacted by a continuing slowing macro-economy and that is impacting our sector’s yields, Jazeera chairman Marwan Boodai said. “The fact that our load factor remained virtually unchanged from the same time last year is a clear indication that demand for our product continues to be strong despite the macroeconomic pressures and the extra capacity that continued to be dumped on our sectors," he said. <br/>
