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 6844 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
New Must-Have Beauty Products from GOSH this October [19978-Views]
Four UAE Designers Take Home LG Signage Design Award [12005-Views]
LPG Endermologie Offers A Chronobiological Slimming Gel [10437-Views]
Huawei unveils the long-awaited HUAWEI Mate 10 and HUAWEI Mate 10 Pro [10248-Views]
The great taste of Lavazza coffee now available in an instant! [8235-Views]
Level Shoes Hosts Christian Louboutin for “Dear India” [8131-Views]
ICONIC Youth Fashion Show Experience [7393-Views]
The Graham Chronofighter Vintage GMT is the tough guys' ticket to time travel [6765-Views]
Glamazle.com introduces Super Matte ‘Glambry' lip tints for the perfect pout [6759-Views]
Diamonds Are Everyone's Best Friend! VOD Dubai International Jewellery Show 2017 Makes Its... [6747-Views]
The Lacoste 12.12 Kids Collection [6051-Views]
SCTDA ‘My Destination' Program Kicked Off with SUC Students [5978-Views]
Reinventing Raymond Weil's Emblematic Chronograph - The Refined Swiss Watchmaking Expertis... [5935-Views]
Moving on Up! Saudi Arabia to Underline Status as Regional Food Manufacturing Force at Gul... [5929-Views]
MICHAEL Michael Kors: Fall 2017 Sadie Large Leather Satchel [5844-Views]
FixOnClick.com - A Services-Matching Platform to Help Fix your Services Need Easily. Stop ... [5832-Views]
The Rado True Shadow - Limited edition timepiece co-created with Japanese designer Kunihik... [5612-Views]
GUESS Launches Stunning Array of Collections for Fall17 [5557-Views]
Beauty Night Is Back at Sheraton Dubai Creek [5545-Views]
Coffee at the touch of a button with ‘Quespresso' [5490-Views]
Better Life launch premium range of large kitchen appliances from Siemens [5447-Views]
PUMA X Photographer Gunner Stahl For Autumn/Winter 2017 [5368-Views]
Ali & Sons Audi unveils all new Q5 and SQ5 in Abu Dhabi and Al Ain [5319-Views]
Dubai Chamber concludes high-level trade mission to Malta [5276-Views]
Introducing FitFuse by COÉGA Sunwear [5252-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories