Jazeera Airways to expand route network, reports improved finances

posted on 26th April 2019 by Justin Burns
Jazeera Airways to expand route network, reports improved finances

Jazeera Airways is set to widen its international route network this year utilising more aircraft it is set to receive including three Airbus A320neos and two A320ceos on short-term lease.

The Kuwaiti carrier expects to start service to London Gatwick Airport in 2019 alongside Bodrum and Istanbul Sabiha Gokcen International Airport, both in Turkey, Kathmandu Airport in Nepal, Dhaka in Bangladesh and Karachi, Pakistan.

Meanwhile, Jazeera Airways this week reported its financial and operational results for the first quarter (Q1) of 2019 and said net profit was KD1.5 million (US $4.9 million) – up from a net loss of KD321,900 in Q1 2018.

The company’s operating revenue increased by 48.4 per cent to KD21.3 million, while aircraft utilisation increased by 16.6 per cent to 13.8 hours and yield increased by 6.8 per cent to KD37.8.

The airline flew 31.2 per cent more passengers in the period than the same quarter last year with 529,640 passengers utilising the routes. The load factor was 75.6 per cent.

Jazeera Airways chairman, Marwan Boodai, said: “Jazeera Airways had a positive performance in the first quarter of 2019, supported by a growing and solid network that serves an expanding customer-base.

“We also continue to focus on our customer-centric approach as we invest in innovative services that not only add value to our customers’ experience, but also create new ancillary sources of revenue and support our strong balance sheet.”

The airline operated its third full quarter from its Jazeera Terminal (T5), which carried 529,640 passengers in Q1 2019 and registered its first quarter of profitability.

Jazeera Airways chief executive officer, Rohit Ramachandran said: “Our earnings are the result of a deep understanding of regional dynamics and a robust plan that enable us to satisfy the needs of our markets.

“We have significant expansion plans for our network in 2019 and we remain focused on implementing our cost optimisation program.”

Boodai added: “2019 will be another milestone year for Jazeera Airways as we prepare to launch new routes in the Middle East, Indian Subcontinent and to the British capital, London.

“The airline will also take delivery of three new A320neo aircraft on order, while it continues to expand its product offer from the Jazeera Terminal.”