With travel restrictions eased Jazeera Airways posts profits in Q3 – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

With travel restrictions eased Jazeera Airways posts profits in Q3 – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

KUWAIT CITY, Nov 13: Jazeera Airways has announced that it has achieved profits again in the third quarter of this year, reports Al-Rai daily. The company explained that, with the easing of travel restrictions and an increase in the number of vaccinated people in Kuwait, it managed to achieve a net profit of KD 11.8 million. Through the network of destinations it serves, an improvement in performance of 310.2 percent compared to the same period last year was observed. The number of passengers increased by 361.8 percent in the third quarter to 302,900 passengers. The load rate increased by 26.7 percent to 65.6 percent despite the restrictions that were imposed on the capacity of Kuwait International Airport during this period.

The revenues increased by 421.7 percent to reach KD 31.7 million, the operating profits amounted to 12.8 million, which is an increase of 332.2 percent, and the operating margin amounted to 40.5 percent. During the nine-month period of 2021, Jazeera Airways achieved profits despite the challenges faced by the sector and the limited capacity that was imposed for a period of five months at Kuwait International Airport. The company succeeded in compensating previous losses to achieve a net profit