Jazeera Airways continues the profitable streak

The first quarter (Q1) showed a net profit of KD 1.1 million, up from a net loss of KD 4.5 million in Q1 2010, It is the best Q1 result since the airline started.

Jazeera Airways Group Chairman Marwan Boodai told analysts in a results briefing, “We are very pleased with our record first quarter results, which demonstrate Jazeera Airways’ success in mitigating the impact of the political unrest seen in the Middle East in the last quarter. We were able to secure this success because of the flexibility we enjoy within the Jazeera Airways Group between our aircraft leasing business, which has assets deployed across the world, and our commercial airline business that serves 18 destinations across the Middle East. Combined, they have not only shielded the Group’s performance from these events, but they have also put the company on a winning streak for three straight quarters”.

Boodai added, “Our outlook for the second half of the year remains unchanged, however we have upgraded our Q2 outlook from ‘slow’ to ‘mild’ as we welcome the inclusion of Cairo into our network starting from May 18. '