Board recommends dividend of 35 fils per share
Kuwait - Feb 8, 2017: Jazeera Airways KSC (Jazeera) today announced its 2017 full-year financial results. The company reported an operating result of KD7.7 million, and a net profit of KD8.2 million.
FY2017 Financial Highlights:
- Operating revenue: KD56.6 million, up 7.3% from FY2016
- Operating profit: KD7.7 million, down 12.1% from FY2016
- Net profit: KD8.2 million, down 23.7% from FY2016 (FY2016 net profit included a one-off KD 2.4 million transfers from foreign currency translation reserve that were reclassified to Statement of Income)
FY2017 Operational and Business Highlights
- Route Expansion: 3 new destinations launched (Doha, Baku, and Hyderabad, India)
- Load factor: 73.9%, up 6.7% from FY2016
- Aircraft utilization: 10.9 hours, up 6.9% from FY2016
- Brand and customer experience: Introduced a series of brand upgrades, including revamped brand architecture, new aircraft interiors, and new digital infrastructure for better customer customer experience from booking to flight.
Jazeera Airways Chairman Marwan Boodai said, “The year 2017 was a transformational year for customer experience enhancements both on-ground and in-the-air. We unveiled a new brand across all customer touchpoints, invested heavily in our digital platform for better revenue management and an engaging customer experience, and rolled out completely new interiors for our fleet. The year 2018 will be no less transformational. Our dedicated terminal, currently under construction, will be launched in Q1 to coincide with our network expansion as we introduce a series of five new destinations in the first half of the year, including Kochi and Ahmedabad (both already launched in January), Lahore, and Tbilisi”.