Jazeera Airways charts 16.7 m profits
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Jazeera Airways Group recently announced a net profit of KWD 16.7 million for 2013.
Jazeera Airways chairman Marwan Boodai said, “The year 2013 was an eventful year. We were able to secure our funding for three aircraft, essentially closing our lending requirements for two years. In addition, we were able to reduce the Group’s debt to equity ratio from 1.7 in 2012 to 1.4 in 2013.”
Key highlights of FY 2013:
- Operating revenue: KWD 65.6 m, up 4.7% from FY2012’s KWD 62.6 m
- Operating profit: KWD20.6 m, up 11.4% from FY2012’s KWD18.5 m
- Net profit: KWD16.7 million, up 19.6% from FY2012’s KWD13.9 million
- Average yield: up 5.1% from FY2012
Following the positive growth, the Group is well-positioned to target the Strategic Master Plan (STAMP), which is set to conclude by end of 2014. During the course of the year, Jazeera Airways Group is planning to place an aircraft order as part of a phased fleet modernization program.
Boodai said: “Our business is based on operating new and modern aircraft at all times and we look forward to making an announcement about our fleet modernization program, including the selected manufacturer, in the next six to eight months.”
Comments are closed.