Dubai PR Network, Online Press Release from Dubai and Middle East
 
Aviation, Airline & Aerospace(Travel & Tourism)
Filter PR by
  
Jazeera Airways announces Q2 2017 financial results, reports double digit growth in operating and net profits and an 8-year record in flown passengers
 
Dubai, UAE, August 2, 2017:  Jazeera Airways today announced its second quarter financial results, reporting an operating profit of KD2.2 million, up 22.9% from the same period last year, and a net profit of KD2.3 million, reflecting a growth of 18.1% from the same period last year. Jazeera Airways’ positive results were driven by higher utilization, improved network planning, and a strong demand for travel during the quarter, which was airline’s best second quarter by flown passengers since Q2 2009. 
 
Q2 2017 Financial and Operational Highlights: 
  • Operating revenue: KD14.0 million, up 9.5% from Q2 2016
  • Operating profit: KD2.2 million, up 22.9% from Q2 2016
  • Net profit: KD2.3 million, up 18.1% from Q2 2016
  • Load factor: 73.3%, up 1.5% from Q2 2016
H1 2017 Financial and Operational Highlights: 
  • Operating revenue: KD24.1 million, down 2.4% from H1 2016
  • Operating profit: KD1.2 million, down 65.2% from H1 2016
  • Net profit: KD1.3 million, down 77.3% from H1 2016
  • Load factor: 72.6%, up 0.3% from H1 2016
Jazeera Airways Chairman Marwan Boodai said, “I am pleased to report to our shareholders that we are on track towards increasing shareholder value. The company’s double digit growth at both the operational level and the net level reflects this ongoing commitment.” 
 
“Our half-year results, however, were pulled down by Q1’s earnings due to a host of external factors, most notably a slowing macroeconomy and the continued overcapacity on our routes. But the turn-around we saw in the airline’s performance in Q2 is very encouraging and we are well-positioned to sustain this positive performance in the coming quarters on the back of a series of customer-focused initiatives that we’ve been announcing for the past year. Currently, our team is focused on digitizing, maximizing, and monetizing Jazeera Airways even more. Earlier this week we launched our new brand, along with a reengineered jazeeraairways.com, which now has a strong e-commerce infrastructure tasked with delivering a faster and more rewarding experience for our customers. Our team is also working hard to further optimize our route network, to increase utilization of our fleet, to add new routes in the coming quarters, and to deliver the state-of-the-art dedicated terminal at Kuwait International Airport, which we promised to launch in the first quarter of next year.”
 
H1 Business Highlights
  • Launched two new routes: Baku and Doha
  • Improved yield per passenger by 4.7% in Q2, vs Q2’16
  • Improved fleet utilization by 3.4% 
  • Strengthened the commercial team with new senior hirings in revenue management, network planning, and e-commerce operations
  • Started construction of the airline’s state-of-the-art dedicated terminal at Kuwait International Airport
  • Launched a new, simplified brand, a new website


Posted by : Dubai PR Network Editorial Team
Viewed 8845 times
PR Category : Travel & Tourism
Posted on : Wednesday, August 2, 2017  5:47:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Strong Demand Growth Continues in June
Next Story : Air Cargo Posts Strongest First Half-Year Growth Since 2010
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Robinsons Honored for Outstanding Store Design [9803-Views]
Safilo Group Reveals Its Spring/ Summer 2018 Collection [7381-Views]
Bridal Glow is Skin Deep: Tips for every bride-to-be in 2018 [7290-Views]
Redefining the Skin Clinic Experience. #allnewkaya opens in Muscat City Centre! [6606-Views]
Optim-Eyes Lashes & Brows with Filorga [6588-Views]
Mealtop, Introducing a Whole New Dessert Experience [6515-Views]
Catch Some Zzz's in the IKEA Nap Truck [6405-Views]
NEZO launches new identity to guide consumers in selecting the best salt for their culinar... [5685-Views]
South African artisans of fine leather products look to make big impression at Leatherworl... [5411-Views]
Dual Investments Brand LE66 to Relocate from City Walk to New Dubai Location in 2018 [5203-Views]
Global Expansion in sight for ICONS© Coffee Couture [5075-Views]
Raymond Weil's Freelancer Ladies [5069-Views]
Tag Heuer Carrera Heuer 02 [4947-Views]
Do You Feel Sleep Deprived? Nearly Half of UAE Would Give Up Social Media for an Extra Hou... [4813-Views]
Al Ghurair Foundation for Education Event on ‘Graduating Work Ready Youth' Unveils Researc... [4691-Views]
15,000 participate in the Dubai Cares' annual Walk for Education 2018 in support of childr... [4355-Views]
DAMAC Properties deliveries surpass 20,000 unit milestone as it reports net profit of AED ... [4252-Views]
Al Qattara Investments reveals expansion plans for Al Ain [4203-Views]
Dealing with Diabetes: What German Medical Center's doctors say about the incurable diseas... [4142-Views]
Indian FMCG Conglomerate Hamdard Laboratories brings “The Drink of India” - RoohAfza to UA... [4075-Views]
Galderma's “Leave Your Mark” Mobile Clinic heightens awareness of skin diseases amongst yo... [4026-Views]
Jaguar Land Rover Awarded as Company of the Year [3965-Views]
Dubai Culture Launches ‘My Environment My Responsibility' Initiative in Hatta [3934-Views]
Name of New High-sided Vehicle to Be Rolls-royce Cullinan [3861-Views]
Pink Caravan Ride Launches Mobile Mammography Clinic to Offer Specialised On-the-spot Scre... [3825-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories