Jazeera Airways posted a decline of 23.6% in profits during the second quarter of 2018 compared to the same period in the prior year, according to an official statement on Tuesday.
The airline company recorded KWD 1.8 million ($5.94 million) net profits in Q2-18, with operating revenues increasing 43.3% to KWD 20.1 million.
During the first six months of 2018, Jazeera Airways achieved an incline of 6.4% in net profits to KWD 1.4 million when compared to the same half a year ago.
In H1-18, Jazeera Airways recorded a growth of 11.7% to KWD 1.3 million in operating profits and a surge of 43% to KWD 34.4 million in operating revenues.
“So far in 2018 we’ve added two Airbus A320 aircraft to our fleet, one of which is a brand new state-of-the-art A320 NEO. We have successfully launched our very own terminal at Kuwait International Airport, the first passenger terminal owned by an airline in the Middle East. And we introduced 5 new routes, three of which have already won over 40% in market share,” Jazeera Airways chairman Marwan Boodai said.
He added, “The rest of the year is looking promising with a very active summer season.”