Jazeera Airways today held its annual general meeting (AGM), approving the company’s financial results for the year ended December 31, 2020 and discussed other regulatory matters on the agenda.
Speaking to shareholders, Chairman Marwan Boodai reiterated that Jazeera’s flexible business model has proved once again its success in adapting to times of crisis to protect its customers, employees and shareholders’ value.
He said: “We were able to reallocate our resources to support our local community and economy in a commitment to our role as a Kuwaiti national carrier, served our customers when government regulations permitted and continued to commit to our obligations.”
During 2020, which was qualified by the International Air Transport Association (IATA) as the “Worst Year in History for Air Travel Demand”, flights were suspended at Kuwait International Airport for close to six months from March 13 and extremely restricted for the rest of the year at Kuwait International for most of the year.
Boodai added: “2020 was specifically exceptional in Kuwait with very strict restrictions and a conservative approach to fighting the pandemic when compared to neighboring countries and the situation of other Low-Cost Carriers in the world.
“With the start of 2021, these restrictions continue, challenging growth in the first half of the year.
Boodai affirmed that demand for travel will always exist.
He said: “With the Government of Kuwait taking bold steps to vaccinating its people, as well as vaccines rolling out worldwide and airports easing restrictions, we expect travel to gradually return to its pre-2019 levels by the fourth quarter. We are very optimistic for the year 2022.”