Kuwaiti low-fare carrier Jazeera Airways’ latest financial results have revealed a boost in operating revenue by 26% and passenger demand by 41% for the first half of 2023 but also showed a reduction in its overall operating and net profits (down 5% and 15%, respectively).
The airline saw strong passenger growth, with load factors up from last year by 4%, at 78%, whilst overall passenger yield was down by 10.5%.
In a statement, the Chairman of Jazeera Airways, Marwan Boodai, reflected on the results: “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.”
The airline has launched several new routes, including flights to three new European destinations — Albania’s Tirana, Germany’s Munich, and Belgrade in Serbia. It is set to launch other routes in the next half of the year.
The airline also became the first GCC carrier to fly direct from Kuwait to Sphinx International Airport in Cairo, Egypt, making it Jazeera’s seventh destination in the country.
In June, Jazeera revealed that it was the launch airline for Expliseat, signing for 2,000 new Tiseat E2 models. It will equip nine aircraft – a mix of Airbus A320 and A321s – to reduce 1,200kg of weight and allow an additional row of passenger seats.
By the end of 2023, Jazeera will add three more A320neos to its fleet to help serve its fast-growing network.
Boodai added: “While doing so [adding these routes], we continue to focus on maximising our operational and financial performance through different products, services and initiatives in the best interest of all our shareholders, partners and customers.”