Kuwait’s Jazeera Airways posts US$7.6m Q2 net profit
Jazeera Airways reported a KD2.3m (US$7.6m) net profit for Q2 2017, an 18.1% improvement over its KD1.9m net profit in Q2 2016. The result was driven by a 9.5% rise in revenue to KD14m, which Jazeera management attributed to higher utilisation, better network planning and increased passenger demand. The airline posted an operating profit of KD2.2m for the quarter, up 22.9% YOY. Load factor for the quarter increased 1.5% YOY to 73.3%. Passenger yield improved 4.7% YOY. However, Jazeera Airways’ Q2 results were not enough to compensate for the airline’s Q1 KD900,000 net loss. For the first 6 months of 2017, the airline’s net profit stands at KD1.3m, down 77.3% from its KD5.7m net profit for the first half of 2016. Half-year revenue, at KD24.1m, is down 2.4% YOY. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-08-03/unaligned/kuwait2019s-jazeera-airways-posts-us-7-6m-q2-net-profit
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Kuwait’s Jazeera Airways posts US$7.6m Q2 net profit
Jazeera Airways reported a KD2.3m (US$7.6m) net profit for Q2 2017, an 18.1% improvement over its KD1.9m net profit in Q2 2016. The result was driven by a 9.5% rise in revenue to KD14m, which Jazeera management attributed to higher utilisation, better network planning and increased passenger demand. The airline posted an operating profit of KD2.2m for the quarter, up 22.9% YOY. Load factor for the quarter increased 1.5% YOY to 73.3%. Passenger yield improved 4.7% YOY. However, Jazeera Airways’ Q2 results were not enough to compensate for the airline’s Q1 KD900,000 net loss. For the first 6 months of 2017, the airline’s net profit stands at KD1.3m, down 77.3% from its KD5.7m net profit for the first half of 2016. Half-year revenue, at KD24.1m, is down 2.4% YOY. <br/>
