Jazeera Airways passenger traffic up 41%; net profit $20.4m

Jazeera Airways on Monday reported a 26.1% increase in total revenues to KD97.85m ($318.22m) for the first half (H1). Operating profits for the period was KD9.35m and net profit KD6.27m ($20.4m), compared to KD7.38m for the same period last year. Profits for the last year also included a “one-off” gain of KD1.73m from the airline’s sale and lease-back of engines, said a statement. With a strong demand for air travel, Jazeera’s passenger traffic showed a 40.9% increase to 2.1m for the first half of the year. Load factors also increased by 4.1% to reach 78.1% in H1. Marwan Boodai, Chairman, Jazeera Airways, said: “As we share our positive results for the first half of 2023, we remain optimistic and confident of our performance. Demand for travel is high and we are pleased to see that reflected in the increased passenger traffic as well as consistent load factors. We have introduced several new and attractive destinations and look forward to launching others in the next half of the year. While doing so, we continue to focus on maximizing our operational and financial performance through different products, services, and initiatives, in the best interest of all our shareholders, partners and customers.” The Jazeera Airways Board of Directors approved an interim cash dividend of 28 fils per share, a total of KD6.16m for H1 that reflects the company’s strong cash position. <br/>