Jazeera Airways Group's profit up 19.6pc in 2013

 29 Jan 2014 - 10:02


KUWAIT: Jazeera Airways Group has announced a net profit of (Kuwaiti Dinar) 16.7 million for the year 2013, up 19.6 percent from 2012's KD13.9 million.

The group's operating revenue in 2013 was KD65.6 million, up 4.7 percent from KD62.6 million in 2012. 

While operating profit was recorded at KD20.6 million, up 11.4 percent from KD18.5 million in 2012.

The company's board recommended cash dividend to shareholders of 15 fils per share, which will be reviewed in the AGM that is due to be held in the next weeks.

Jazeera Airways' chairman, Marwan Boodai said, "The year 2013 was an eventful year. In addition to sustaining good results for three years in a row, we were able to secure our funding for three aircraft, essentially closing our lending requirements for two years, and we were able to reduce the group's debt to equity ratio from 1.7 in 2012 to 1.4 in 2013, and to close the year with the best performance in the group's history." (QNA)