Jazeera Airways announces profit in first half of 2022

Jazeera Airways announces profit in first half of 2022

Jazeera Airways today announced strong results with a net profit of KD7.8 million for the first half (H1) of 2022, compared to a net loss of KD11.7 million in the first half of 2021. Total revenue for the period reached KD77.6 million, up four times from the comparable period, while operating profit stood at KD9.8 million, up 187%.

These solid financial results were driven by active operations that saw the company carry its highest ever number of passengers in the second quarter of 817k bringing the total for H1 2022 to a record of 1.5 million passengers as travel activities gradually return to pre-pandemic levels. Correspondingly, load factor reached 74.0% for the first half of the year reflecting an increase of 19.3% over last year.

Jazeera Airways Chairman, Marwan Boodai commenting on the results by saying: “Our forecasts and expectations for the first half of the year were very accurate as passengers’ appetite to travel was met with a return of travel capacity at Kuwait International Airport since the second half of last year. Jazeera has placed itself well to reap the benefits of the new market dynamics and was able, through its constant communication with its passengers and its analysis of