Tag Archives: Marwan Boodai

66.2% increase over 2023 driven by strong passenger growth Passenger numbers surpass 4.9 million, load factor at 78.4% Jazeera Airways announced impressive financial results for 2024, reporting a net profit of KD 10.2 million, a significant 66.2 per cent increase compared to the previous year. The airline’s operating revenue rose by 5.3 per cent to KD 208.6 million, while EBIT surged by 46.8 per cent to KD 17.3 million. Passenger numbers continued their upward trend, demonstrating the most active year on record – exceeding 4.9 million—an increase of 5.1 per cent from 2023, supported by a strong summer travel demand. The airline also achieved a load factor of 78.4 per cent, reflecting high seat occupancy. In Q4 2024, group operating revenue climbed 15 per cent to KD 45.1 million, with quarterly losses reduced by 41.1 per cent to KD 4.2 million, compared to KD 7.14 million in Q4 2023. This was mainly driven by improved revenues and measures implemented to increase operating efficiency. Jazeera Airways Board of Directors recommended a dividend distribution of 40 fils per share. Marwan Boodai, Chairman, Jazeera Airways, said, “Jazeera Airways’ strong performance in 2024 reflects our strategic agility, operational excellence, and commitment to our passengers. A significant growth in profit amid industry challenges underscores our resilience and ambition. As we drive forward with digital transformation in 2025, we remain focused on enhancing connectivity and customer experience. We could not have achieved this success without the exceptional support of our shareholders, passengers, dedicated employees, and supportive stakeholders. We are excited for the journey ahead, building on this momentum to deliver even greater value and innovation in the years to come.” 2024 Operational Review The year 2024 …

Jazeera Airways today declare financial results for the first half (1H) of 2023 with total revenues up 26.1% to KD97.85 million and operating profits of KD9.35 million. Net profit for the period was KD6.27 million compared to KD 7.38 million for the same period last year. Profits for the last year also included a “one-off” gain of KD1.73 million from the airline’s sale and lease-back of engines. With a strong demand for air travel, Jazeera’s passenger traffic showed a 40.9% increase to 2.1 million for the first half of the year. Load factors also increased by 4.1% to reach 78.1% in H1. Announcing the results, Marwan Boodai, Chairman, Jazeera Airways said: “As we share our positive results for the first half of 2023, we remain optimistic and confident of our performance. Demand for travel is high and we are pleased to see that reflected in the increased passenger traffic as well as consistent load factors. We have introduced several new and attractive destinations and look forward to launching others in the next half of the year. While doing so, we continue to focus on maximizing our operational and financial performance through different products, services, and initiatives, in the best interest of all our shareholders, partners and customers.” The Jazeera Airways Board of Directors approved an interim cash dividend of 28 fils per share, a total of KD6.16 million for H1 that reflects the company’s strong cash position. Second Quarter 2023 Review In the second quarter of the year, Jazeera considerably expanded its network by adding direct flights to Moscow, Samarkand, Larnaca, Shiraz, Belgrade, Tirana and Tivat. The airline also became the first GCC carrier to fly direct from Kuwait to …