Jazeera Airways Group Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
January 31, 2014
Share
Jazeera Airways Group announced earnings results for the third quarter and nine months ended September 30, 2014. The company reported a 22.6% jump in the third quarter net profit of KD 8.1 million. It is the airline group's 17th quarter of straight profitability. Operating profit climbed KD 23.1 million, up 15.2% from the third quarter last year. The number of passengers travelling with the airline in the third quarter increased by 10.8%, compared to the same period last year.
As of September 30, the group's revenue for the first nine months of the year increased 3.1% to KD 52.4 million, compared to the same period a year earlier. However, net profit for the year so far has slid 7.9% to KD 13 million.
Jazeera Airways Co KSCP is a Kuwait-based public shareholding company engaged in the business of air transportation and commercial passenger services. The Company operates in two business segments: Passenger airline service and Leasing of aircraft. The Company operates a fleet of Airbus A320 aircrafts flying to 18 destinations across the Middle East, including Dubai, Bahrain, Beirut, Alexandria, Amman, Damascus, Istanbul, Sharm El Sheikh, Assiut, Aleppo, Deir Ezzor, Luxor, Mashhad, Sohag, Jeddah, Riyadh, Kuwait and Cairo. The Company has two wholly owned subsidiaries, Al Sahaab Aircraft Leasing Company WLL, a Kuwait limited liability company engaged in leasing of aircraft and engines, and Sahaab Aviation LLC (Trustor).