Mubasher: Jazeera Airways posted a decline of 23.7% in net profits to KWD 8.2 million ($27.4 million) when compared to the previous fiscal year.
The airline reported a year-on-year growth of 7.3% in operating revenues to KWD 56.6 million, according to a recent statement.
The Kuwaiti budget carrier’s operating profits grew by 12.1% to KWD 7.7 million.
The developed terminal which specialised for Jazeera Airways’ passengers is expected to be completed by the end of the first quarter of 2018 in line with inaugurating five new directions in the first half of 2018, chairman of the airline, Marwan Boodai, said.
Jazeera Airways has launched new directions to Doha, Baku, and Hyderabad, with a seating capacity of about 73.9% in FY17.
At the stock level, Jazeera Airways closed Thursday’s session 0.95% higher at 635 fils.
