Jazeera Airways announces KD3.8 million in net profit in first quarter 2022

Jazeera Airways

Jazeera Airways has announced a net profit of KD3.8 million for the first quarter (Q1) of 2022, compared to a net loss of KD5.2 million in the first quarter of 2021. Total revenue for the quarter reached KD35.7 million, up 339.2%, while operating profit stood at KD5.3 million, up 199.3%. These record earnings were supported by a close to sixfold increase in number of passengers with restrictions at Kuwait International Airport being eased and travel capacity gradually increased to levels near to the pre-pandemic period. Similarly, load factor reached 75.2%, an increase of 28.7%. 

Commenting on the results, Jazeera Airways Chairman, Marwan Boodai said, “The gradual return of travel capacity at Kuwait International Airport since the second half of last year as well as the lifting of travel restrictions worldwide has shown that there is indeed a latent and strong appetite for travel. Jazeera has focused in the first quarter on expanding its services and capacity in preparation for the launch of new tourist and high demand destinations during the year.