JULY 28TH, 2015

Jazeera Airways Group announces H1 2015 financial results, reports 27% increase in net profit for the period

Freedom Town, Kuwait – July 28, 2015: Jazeera Airways Group today announced its second quarter earnings for the year. The company registered a net profit of KD3.2 million, an increase of 14.2% from the same quarter last year, which brings its half-year net profit to KD6.2 million, a 27.1% increase from the same period last year. The continued strong growth was driven by an increase in demand and higher load factor, which was up 4.1% compared to the same period last year.

Q2 Group Financial Highlights:
● Operating revenue: KD13.8 million, less 1.5% from Q2 2014
● Operating profit: KD2.2 million, up 7.3% from Q2 2014
● Net profit: KD3.2 million, up 14.2% from Q2 2014

H1 Group Financial Highlights:
● Operating revenue: KD26.6 million, up 0.8% from H1 2014
● Operating expenses: KD21.9 million, less 5.8% from H1 2014
● Operating profit: KD4.7 million, up 51.0% from H1 2014
● Net profit: KD6.2 million, up 27.1% from H1 2014

Jazeera Airways Group Chairman, Marwan Boodai, said: “Our continued double-digit growth despite all the challenges proves that we have the right strategy in place for our market with the right product for our customers, to whom we are very thankful for making Jazeera Airways one of the most successful airlines in the Middle East.”