Friday, March 22, 2024
Today, Jazeera Airways held its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) at its headquarters in Kuwait. During the AGM, shareholders approved the financial results for the fiscal year ending on December 31, 2023. The company reported a net profit of KD 6.13 million and earnings per share of KD 27.86 fils. Noteworthy was the significant increase in passenger numbers in 2023, reaching 4.68 million, marking a 30.6% surge compared to the previous year. Additionally, the load factor experienced an uptick, reaching 78.2%.
Marwan Boodai, Chairman, Jazeera Airways, said: “Jazeera’s strength and spirit has been tested several times in the last few years. We however, continue to demonstrate operating resilience. Last year again, was challenging but our ongoing focus on unit cost, high load factor and growing market share helped retain our strong position in a highly competitive environment. Our solid business model and service quality always emerge successful and we are already seeing a good start to 2024.”
During the Extraordinary General Meeting (EGM), shareholders granted approval for an amendment to the Articles of Association, enabling an expansion of the Board of Directors from 8 members to 9.
2024 Outlook
The outlook for the current year remains promising as Jazeera Airways continues its expansion, adding new destinations to its network and aircraft to its fleet. By 2028, Jazeera Airways anticipates reaching 100 destinations and expanding its fleet to 35 aircraft. Additionally, the airline forecasts its load factor to surpass 80% by the following year.
In preparation for future growth, Jazeera Airways aims to establish a new hangar by 2025 for conducting high-level maintenance checks. To accommodate the rising demands of its growing passenger base, the airline has several expansion and infrastructure projects in progress.
Saturday, April 27, 2024
Saturday, April 27, 2024
Sunday, April 28, 2024
